Residents in Burnham and across Mid Essex are being invited to draw on the experience of a locally based company that has established itself across generations of homeowners.

The Mortgage Clinic offers financial advice on a range of home-related matters. This includes equity release – often a subject that can raise concern and doubt among older people looking to capitalise on the equity in their homes.

The company has established its reputation over decades, initially from its base in Southend, but now across a wider segment of the region – most recently working with clients in Southminster.

Director and owner Bryan Ledger, now based in Woodham Walter, told Nub News: "A lot of our clients become friends.

"I'm now doing business with the children of clients who we dealt with many years ago. We must be doing something right!"

The Mortgage Clinic Ltd is fully authorised to conduct mortgage and protection business by the Financial Conduct Authority. In the last 20 years, it has helped hundreds of people buy their homes or re-organise their finances.

Specialist later-life lending includes Retirement Interest Only Mortgages (RIOs) and Equity Release Schemes.

Bryan said: "We've been in business for over 30 years. One of our main focuses at the moment is later-life lending.

"This encompasses Retirement Interest-Only Mortgages and Equity Release. There's a huge market for people over 55, who are property rich but cash poor.

"Therefore, they're using later-life lending to subsidise their mortgages, their pensions, and to do all the things they want to do in later life – like going on holiday or visiting family.

"Quite frankly, it's moved to a point where it's an additional source of income. They draw money from their property to help with the general cost of living.

"One of the big myths we want to bust is the fact people could lose their home. On Equity Release, there's a 'no negative equity' guarantee, which means they can never owe more than the house is worth.

"If it goes over, the lender takes the pain."

"We put our heart and soul into it."

Therefore, Bryan says borrowers never run the risk of losing their homes. With Equity Release, there is no requirement to service the interest, but it is advisable to do so to stop the debt from rolling up.

He added: "On a conventional Retirement Interest Only Mortgage, they're using their pension income to service the loan. It goes on until death or going into long-term care.

"The main message is that Equity Release is not for everybody – you have to be advised very carefully about all the options. Another way to raise money might be downsizing your property.

"All the schemes are very good now because they're tightly regulated. It solves a problem for a lot of people.

"I've just helped a couple in Southminster, where we went through everything very carefully over three or four visits and then they decided to go ahead. That's just been completed, and they're very happy."

The Mortgage Clinic has an office in Duke Street, Chelmsford, although much of Bryan's work is carried out from his home in Woodham Walter.

Bryan continued: "We're not just Equity Release. I've been dealing with first time buyers and others for over 30 years. We cover the whole spectrum of the market, from first-time buyers to later-life lending.

"We also do loans to buy to let, investments, some commercial investments – so we cover the whole of the market. We also do protection: life insurance, critical illness, and bills & content insurance.

"We are directly authorised by the Financial Conduct Authority. I'm qualified CMAP, with Financial Planning Certificates 1,2, and 3. CMAP is the standard mortgage qualification. I've also got CERER, which is the Equity Release qualification.

"So, we're fully badged, with a lot of experience. We've dealt with literally hundreds, if not, thousands of people over the years.

"We put our heart and soul into it."

For more information about The Mortgage Clinic, visit the website.

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