Wealden Times | WT261 | February 2024 | Education Supplement inside
Share Embed Flag

Wealden Times | WT261 | February 2024 | Education Supplement inside

The lifestyle magazine for Kent & Sussex - Inspirational Interiors, Fabulous Fashion, Delicious Dishes The lifestyle magazine for Kent & Sussex - Inspirational Interiors, Fabulous Fashion, Delicious Dishes

Priceless.Media
from Priceless.Media More from this publisher
25.01.2024 Views

and new together into a cohesive whole on the outside.The careful blend of classic and contemporary continuesthroughout the interior, and the new spaces blend seamlesslywith the original. It has all been very well thought out,but when the couple first bought the house it was far fromcertain that they’d even be able to do a loft conversion, asSophie explains. “For my work I do lots of loft conversions.Sarah asked if we could do a loft here, and if it had beena client asking, I’d have said no, because the roof ridgeheight was lower than ideal; through careful planningwe were able to find a solution with a large dormer atthe back and rooflights over the en suite which is tuckedinto the slope of the front roof.” This has meant thatthey’ve managed to squeeze a whole bathroom into whatnormally becomes a cupboard or waste of space. It wasa tight fit though and the shower door had to be madeand fitted precisely to match the angle of the ceiling.Ingeniously the staircase up into the loft is not separatedinto what could have been a gloomy, narrow accesspoint, but incorporated into the room, so that valuablespace is saved and the third floor feels open and airy.Light comes flooding into the loft room through a largewindow and from the rooflights. “The picture window runsfull width at the back, which brings in so much natural light.It is a lovely place to wake up in – and have the view.”The loft extension was the first project the couplecompleted when they moved in, and Sophie has a hugetip for anyone going through the house renovation orextension process, especially undertaking work in phases,as and when affordable. “When we first moved here it wasa two bedroomed house with one double bedroom and asingle. We decided to do the loft extension immediately tocreate an en suite bedroom, which meant we could havefamily and friends to stay, and that we had also turned it “There was already a1980s extension witha kitchen and a looat the back, and webadly needed to changethat because the bestview of the gardenon the ground floorwas from the loo.”priceless-magazines.com 56

Equity Release and Interest Only MortgagesIncreasingly, Equity Release plansare being used to repay Interest Onlymortgages.Financial news keeps reminding us howmany Interest Only mortgages are duefor repayment over the next few yearswhere no plans have been made to repaythe loan. Interest has been paid, oftenfor years, but the capital is now due forrepayment. Options for repayment includeselling and downsizing however, for some,a more attractive option is to re-finance.Equity Release/a Lifetime Mortgage isoften the most attractive solution if peopledo not want to, or are unable to sell.What is the difference between EquityRelease and Lifetime Mortgages?The term ‘Equity Release’ had got itself abad name. As products become moreflexible, the term ‘Lifetime mortgage’ isa more accurate description however,essentially, they are the same thing!With most plans, YOU still own yourproperty. The lender requires a firstcharge – just like any other mortgage.There is a particular ‘spotlight’ on EquityRelease due to its long-term natureand the typical type of customer.Equity Release is regulated under theFinancial Conduct Authority (like allmortgages), and is also supported by theEquity Release Council. Any reliable EquityRelease adviser should be a member.What are the different types of plan?There are typically two routes –‘Roll up’ and ‘Pay as you go’.With a ‘Roll up’ plan, interest is chargedon the initial release and added to thedebt. Over time, the debt grows. Theoriginal loan, plus the accumulatedinterest, would typically be repaidwhen the property is sold (eitheron death or moving into care)A ‘Pay as you go’ plan also provides aninitial release, but instead of the interestbeing added, the borrower pays it (ona regular or ad hoc basis), meaning thedebt remains level throughout its lifetime.Neither is right or wrong and thereare merits to both depending onindividual circumstances.Regardless of the reasons for consideringEquity Release, Sarah would stronglyrecommend seeking advice as towhether, or not, this route is appropriatefor your individual circumstances.There are many plans to choosefrom, and finding the RIGHT optionis important to ensure the decisionis not just suitable at the outset, butthat it remains suitable later in life.ADVERTISEMENT FEATURECall Sarah on01622 631372 or 07789 007447or e-mail her atsarah@ferrellfinancial.co.ukYou may find answers tosome of your questions atwww.ferrellfinancial.co.ukEquity Release can reduce the value of your estate and can affect your eligibility for means tested benefits.Ferrell Financial Limited is authorised and regulated by the Financial Conduct Authority. Registration number: 678768A SUBURBAN COURTYARDGO GREEN - CHOOSE SOLAR Lower your electricity bills Reduce your carbon footprintReceive payments for extra energy yougenerate if you have a smart meter Competitive prices Commercial & domestic installations Roof or ground mounted systems More than 1350 happy customersWWW. GA R DE NPR OUD. CO. UKDE S I GN | CONS T R UCT | MA I NT A I NCONTACT US TODAY01233 612 082info@greenmansolar.comwww.greenmansolar.com57priceless-magazines.com

and new together into a cohesive whole on the outside.

The careful blend of classic and contemporary continues

throughout the interior, and the new spaces blend seamlessly

with the original. It has all been very well thought out,

but when the couple first bought the house it was far from

certain that they’d even be able to do a loft conversion, as

Sophie explains. “For my work I do lots of loft conversions.

Sarah asked if we could do a loft here, and if it had been

a client asking, I’d have said no, because the roof ridge

height was lower than ideal; through careful planning

we were able to find a solution with a large dormer at

the back and rooflights over the en suite which is tucked

into the slope of the front roof.” This has meant that

they’ve managed to squeeze a whole bathroom into what

normally becomes a cupboard or waste of space. It was

a tight fit though and the shower door had to be made

and fitted precisely to match the angle of the ceiling.

Ingeniously the staircase up into the loft is not separated

into what could have been a gloomy, narrow access

point, but incorporated into the room, so that valuable

space is saved and the third floor feels open and airy.

Light comes flooding into the loft room through a large

window and from the rooflights. “The picture window runs

full width at the back, which brings in so much natural light.

It is a lovely place to wake up in – and have the view.”

The loft extension was the first project the couple

completed when they moved in, and Sophie has a huge

tip for anyone going through the house renovation or

extension process, especially undertaking work in phases,

as and when affordable. “When we first moved here it was

a two bedroomed house with one double bedroom and a

single. We decided to do the loft extension immediately to

create an en suite bedroom, which meant we could have

family and friends to stay, and that we had also turned it

“There was already a

1980s extension with

a kitchen and a loo

at the back, and we

badly needed to change

that because the best

view of the garden

on the ground floor

was from the loo.”

priceless-magazines.com 56

logo

products

Resources

Company

Terms of service
Privacy policy
Cookie policy
Cookie settings
Imprint
Change language
Made with love in Switzerland
© 2024 Yumpu.com all rights reserved

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!