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June 2025 | Phonebox Magazine 37%u2022 Company Accounts%u2022 Corporati on Tax Returns%u2022 Sole Trader and Partnership AccountsEmail: andrew@aj-accountancy.co.ukTel: 07799 398555 or 01234 71315117 High Street, Olney House, Olney, Bucks, MK46 4EB%u2022 Self-Assessment%u2022 Payroll%u2022 VAT & Book-Keeping%u2022 Tax Advice and Business Start Upwww.aj-accountancy.co.ukDominic Mills & CoSolicitorsSpecialists in:WillsPowers of AttorneyDeputyship applicationsProbate and administration of estatesInheritance tax planningCare fees advicePlease contact Steven HighamBrewery House, 84 High StreetNewport Pagnell, BuckinghamshireMK16 8AQTel: 01908 618708email: sh@dmillsandco.comWebsite: www.dmillsandco.com3. CONSIDER ALTERNATIVESI have seen Equity Release do a huge amountof good, however it is not right for everyone. Iencourage my clients to consider other ways ofraising the funds, to make sure this is the rightroute for them.4. INVOLVE A FRIEND OR FAMILY MEMBERIf you have children/beneficiaries it is verylikely that, at some point, your family will needto deal with the lifetime mortgage. Ifappropriate, I would recommend aconversation with family and would alwayswelcome multi-generational meetings.5. CONSIDER MAKING PAYMENTS OFINTERESTIf you have the means to pay, even aproportion of the interest during your lifetime, Iwould more often than not recommend this asit protects the equity in your home %u2013 not just forthose you leave behind but, more importantly,for your own benefit should you need morefinancial options later in life.With an increasing number of schemes availablethere is more choice and flexibility than there hasbeen in the past. Local expert, Michael Petchey, is agreat advocate of Equity Release, however as hesays, %u201cIt is a transaction that will %u201clast a lifetime%u201d socareful consideration and good advice are needed%u201dMichael gives us his top tips when consideringEquity Release:1. GET ADVICEThis is a lifetime financial decision. There are somany different plans available, so finding the rightcombination of features to suit your circumstances(both now and later in life) is of paramountimportance. It is the role of the adviser to make sureyou understand all the costs, key points andrestrictions that may affect you.2. CAREFULLY CALCULATE HOW MUCH YOUNEED AND WHEN YOU NEED ITAny release comes with a cost and it is importantnot to release more than necessary. I recommendmy clients write a %u201cshopping list%u201d to accurately notehow much they require and how soon they need themoney. If, for example, a proportion of the funds isneeded for a project in 12-18 months%u2019 time, I mightrecommend an initial release with a futuredrawdown facility to reduce the effect of interestlonger term.Call Michael on01908 382 406 or 07922 590652or e-mail him atmichael@bricksandmortgages.co.ukYou may find answers to some of yourquestions atwww.bricksandmortgages.co.ukMichael Petchey CeMAP, CeREREquity Release - Things To ConsiderThis is a lifetime mortgage. To understand the features and risks, please ask for a personalised illustration. Check that this mortgage will meet your needsif you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice. Bricks and Mortgages Ltd is anAppointed Representative of The Right Mortgage Ltd, which is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales no.11726935. Registered address : 3 Warren Yard, Warren Park, Stratford Road, Wolverton Mill, Milton Keynes, MK12 5NW. A fee may be charged for equity release advice.The exact amount will depend on your circumstances, our typical advice fee would be up to %u00a3495 on completion..Michael maintains that advice and carefulconsideration are needed. He is happy to visityour home, chat by phone or via videoconference to provide a free initial consultationand he will offer flexible times to suit his clients.