Pembrokes - Equity Release The Tong-Mei Aeroplane........13/14 What’s On... ........................ 15/17

Adur Photographic Society

Tuition without Competion EQUITY RELEASE: HERE’S WHY THE RIGHT TO MAKE REPAYMENTS COULD CUT THE COST OF BORROWING

Equity release can help boost your finances later in life. The way that interest is rolled up often means that people ended up with high levels of debt, but the new right to repayment could change that.

Equity release allows you to access some of the wealth that’s tied up in your property, most commonly through a lifetime mortgage. Traditionally, you wouldn’t make any repayments. Instead, the interest accrued would be rolled up and paid once you passed away or moved into long-term care. It means the total amount of debt can quickly increase. Now, the right to make repayments could provide older homeowners with even more flexibility.

What does the “right to repayment” mean?

Equity release customers taking out a lifetime mortgage from a provider that meets the Equity Release Council standards from 28 March 2022 will be guaranteed the right to make penalty-free partial repayments of their loans. As a result, new customers will be able to offset the interest the debt is accruing and reduce their borrowing if they wish to.

Rolling up interest can drastically increase how much you owe during your lifetime

One of the drawbacks of equity release is that you can end up owing far more than you originally borrowed because of the way that interest is rolled up. The below table shows how interest adds up if repayments aren’t being made on an equity release loan of £50,000 that has an interest rate of 5%. As the interest is added to the loan amount each year, you go on to pay interest on the interest that

Year Loan Interest at 5% Total owed

1 £50,000 £2,500 £52,500 2 £52,500 £2,625 £55,125 3 £33,125 £2,756 £57,881 4 £57,881 £2,894 £60,775 5 £60,775 £3,038 £63,814

Source: Equity Release Council has previously been rolled up. As a result, the longer you have a lifetime mortgage, the quicker the total amount owed will rise. The new guarantee can mean you’re able to unlock property wealth while better managing the loan taken out against your home and reducing the interest.

Is equity release right for me?

Equity release can be a useful way to boost your finances in retirement, but it’s not the right option for everyone. You will usually need to be age 55 or older and own your own home to be able to use equity release to unlock property wealth. You should also consider how it fits into your overall plan and what your alternative options are. In some cases, depleting other assets you may hold, such as savings or investments, or downsizing makes more sense for your goals. Choosing to use equity release can also limit your other options. It could affect some means-tested benefits too. Please contact us on 01273 774855 or email advice@pembrokefs.co.uk if you would like more information and quote reference PFSIS.

As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments. Think carefully before securing other debts against your home. Equity released from your home will be secured against it. Your home may be repossessed if you do not keep up repayments.

T. 01273 774855 Marlborough House, E. advice@pembrokefs.co.uk 102-110 High Street, W. www.pembrokefinancial.co.uk Shoreham-by-Sea BN43 5DB Keith Relf & Keith Bonner - Managing Partners

The Tong-Mei Biplane

In 1912, Mr Tsoe Kwong Wong, a Chinese student from the University Of London arrived at the newly established Shoreham

Aerodrome.

In 1912, Mr Tsoe Kwong Wong, a Chinese student from the University Of London arrived at the newly established Shoreham Aerodrome. There he joined his fellow pioneers in the fledgling aviation industry. Known as ‘Gordon’ he designed and constructed the single seat ‘Tong-Mei’ (Dragonfly) biplane. It was described as being similar to a BE 3 with its balanced rudder mounted on a wood-filled steel mast that extended through the body, to support the pivoted tailskid. Another similarity was the deep fuselage and landing gear. The steel clips fastening the struts to the plane’s fuselage and skids though were strong pieces of plate work that were considered revolutionary in the design. Another innovation was the rib construction of the wings. Each rib was built up of three laminations of spruce, layered together with glue and rivets. The resulting curve was permanent and the finished rib was of greater strength than in existing planes of the time. The inspiration for this was the dragonfly and the ‘Tong-Mei’ became the first all-weather aircraft intended for mass production and use in the seasonal extremes of the Far East. The comfort of the pilot had been carefully considered and they were well sheltered behind an aluminium turtle deck, which also streamlined the petrol and oil tanks. The fuselage ended in an almost semicircular tail with a slightly cambered top-surface. The plane’s wingspan was thirty feet across and the wings had a trailing edge and were swept back to provide greater control in flight. In 1913 the plane was fitted with a 40 hp ABC fourcylinder inline engine. With his plane complete, Wong decided it was time to learn to fly himself, which he had been unable to do up until this point. He studied at the Ducrocq and Lawford School at Brooklands, flying Bleriot monoplanes. On the 15th of August he was awarded his certificate stamped #593 after his test at Brooklands, having flown a Bristol biplane. He then took to the skies of Shoreham in his uncanvassed skeletal ‘Tong-Mei’ with enough fuel to fly for three and a half hours. Further test flights were also a success. In December 1913 with William Forbes Skene an engineer and the pilot Eardley Haydon Lawford as directors the company T. K. Wong Ltd was created. In 1914, before the plane was demonstrated in front of an audience of investors it was agreed it needed to be aesthetically pleasing and it was redesigned. A second seat was added and the original ABC engine was replaced with the larger more powerful 100 hp Anzani radial engine. The fuselage ahead of the cockpit was made of a mix of flat sheets of aluminium on the sides and rounded sheets on the top and bottom. The fuselage and wings were covered with canvas and ‘Wong’ was paint stencilled in big letters along the fuselage, where previously the name had been hand

The Tong-Mei Biplane

aluminium on the sides and rounded sheets on the top and bottom. The fuselage and wings were covered with canvas and ‘Wong’ was paint stencilled in big letters along the fuselage, where previously the name had been hand painted. After more test flights at Shoreham the ‘Tong-Mei’ was disassembled, crated and shipped to the Federated Malay States in the hope of attracting investment. It was reassembled at the improvised airstrip of the Kuala Lumpur Polo Ground. After more test flights it seemed T.K. Wong was about to realise his ambition of bringing aviation to the Far East. On Saturday the 11th of July 1914, to the delight of an excited audience he took off from the polo field. Unfortunately however Wong misjudged his landing, running off the field and into a fence, snapping off the plane’s propeller. After repairs further flights to attract investment met with mishaps such as a burst tyre and broken skis on landing. On its final flight the engine stalled. Wong then discovered that globally there was a lack of enthusiasm to invest in aviation. It was still deemed a novelty by many and wasn’t deemed commercial enough. The ‘TongMei’ was one of many prototype planes consigned to history, but it did become successful as a popular scale model kit.

Judy Upton

Sources Flight Magazine 31st May 1913 Graces Guide Straits Times 13th July 1914

What’s On - Local Groups

Sequence Dancing

Sequence dancing Wednesday afternoons 1.45 - 4.15 pm at Quayside, Upper Kingston Lane, Southwick, BN42 4RE. For more info ring Clive on 01273 410438

Retirees Golf Society

Have you just retired, over 60 and and would like to play. Golf with like-minded people who don’t want to pay the expensive annual subscriptions and joining fees. Why not join my local retirees golf society? My name is Rob, I enjoy golf and live in Shoreham. Looking for people to join who want to play for fun. If our golf improves too, then that’s a bonus.The Society started in May. We play every Monday morning, each month we play nine holes course or two eighteen holes courses, all venues well be within half an hours drive from Shoreham, currently we have in excess of twenty members but there is always room for more. Ladies are welcome. Should you be interested you can contact me at:

marsh-robert@sky.com Table Tennis for the Over 50s

St Giles Church Hall, Upper Shoreham Rd Shoreham. Thursdays 2.30-4.30 with refreshments. Beginners welcome a very friendly group. £4 session paid monthly. Numbers are limited MUST BOOK through:Pat on 07856 285078.

The Shoreham Chess Club

The Club started during Lockdown 2020 and has recently moved to Address: Sussex Yacht Club; 85/89 Brighton Rd, Shoreham-by-Sea, BN43 6RF Hours: Wednesday: 7:30PM–10:00PM So- every Wednesday we play friendly games and try to get a little better. The level ranges from people who recently learned the rules to county standard. We are looking for more members so please visit our website to findout how to contact us and learn more. https://shorehamchessclub.com.

Southwick Trefoil:Girl Guiding for Adults

Girl Guiding for adults. New members always welcome & open to anyone over 18 years. No previous membership of Girl Guiding necessary. Meetings held on 2nd Monday of the month 19.15 - 21.15, usually at Southwick Community Centre. For further details please contact:

Margaret 01273 966534 or Mary 01273 594753 Southwick Trefoil

Welcomes new members. We meet on the second Monday of the month 19.15 - 21.15 at Southwick Community Centre. Have you ever noticed how much fun youth groups like Rainbows, Brownies & Guides have. Everyone can join today. We’re looking forward to welcoming you & sharing the fun that is Trefoil. For further information please contact Margaret 01273 966534 or Mary 01273 594753

PILATES at Southwick Christian Community Church Thursday 9.30-10.30am Lovely, friendly class. Beginners welcome. Also in Shoreham, Lancing & on zoom Contact Sharon 07969 610030 for more info & to book your place

Southwick Lace Club

Southwick Lace Class meets at the Southwick Community Centre on Tuesdays from 09.45 to 11.45 in term time. We welcome beginners to lacemaking as well as those with experience. For more information please contact the Tutor, Rosemary Brown, on 07900 191443 or rjbrownsw@virginmedia.com

Shoreham Book Club

We meet once a month. The last Tuesday of each Month at the Crabtree Pub at 7.30 in the snug Please email for more information ShorehamBySeaBookClub@gmail.com

nicolaharmanyoga.co.uk

Tuesday yoga 6pm Shoreham Centre Wednesday yoga online zoom 7:15pm. Saturday yoga online zoom 10am. All classes are 1 hour https://www.nicolaharmanyoga. co.uk 07844070448

UKESALOUD Ukulele lessons

Ukulele Courses for Adults Saturday mornings in the Function Room at the Ferry Rigg, Shoreham by Sea Please call or text: 07931 372694 or email: theresavcarey@hotmail.com for booking details. All social distancing measures in place.

Monthly Meetings at Shoreham Centre

Starts September 2022. Monthly meetings in Shoreham. Mondays 2.30 - 4.00 For further information contact Tim on 07713 251465

What’s On - Local Groups

Southwick Bowls Club

Southwick Recreation Ground.

The new outdoor bowls season commences on Monday 18th April. We welcome new and experienced bowlers to come along and take a look at our bowls club. Every Monday and Friday at 1.30pm we invite new bowlers to try out and will provide bowls, tuition, help and encouragement to get you started.For more information:- Website: southwickbowlsclub. com or phone John Southwick Bowls Club 07973149534

The Southern Electric Group

Railway Interest meetings. The next meeting of the Southern Electric Group will be held on AUGUST 8TH between 7.15 &10.pm in the Deall room at the Southwick Community Centre. August 8th “Rail Rover 2019 Part 2 “ Presented by Keith Carter. The subject and speaker will be (eg Chepstow to the Cardiff Valleys with Taffy) A donation of £3, to help cover expenses is requested from visitors. We apologise if any late changes to the programme are made. Contact Peter Jones. 07938553364

The Southwick Art Club

We are a friendly club, mainly working on painting and drawing, of mixed abilities with the only qualification being a love of art We meet at Southwick Community Centre on Wednesday evenings at 7.30 in the Glebe Room apart from August and late days in December. We welcome new members and you are welcome to look in on one of our sessions without obligation. We follow a structured programme with an annual subscription of £75 which includes entry to all our sessions. Contact Secretary John Young 01273 885302 email johnryoungac@yahoo.co.uk or from the Community Centre notice board.

Shoreham Society AGM

7.00pm, Friday 21st May 2022, Room 3, Shoreham Centre (Free). This is an exciting period for the Shoreham Society and Shoreham in general. Join us and find out what we have been doing over the last year and what we plan for the future. Full details at

www.shorehamsociety.org.uk/events

St Nicolas Church

St Nicolas Church, Old Shoreham A warm welcome to anyone who would like to join us for Holy Communion on Sundays at 8:30am or 10:00am, Wednesday at 9:30am or Sung Evensong at 6:00pm on the 1st Sunday of every month. Why not come and try our popular monthly Coffee and Cakes on a Saturday morning, from 10:00am to 12:30pm. There will be a great selection of cakes, to eat in or take away, and also jams with a low carbon footprint as they are mainly made from local fruit. Normally 3rd Saturday of the month but for full details of dates see: www.saintnicolas.org. uk/events or St Nicolas Church facebook page

Southwick and Fishersgate Horticultural Society

Meetings are held on the 1st Tuesday of the month at Southwick Community Centre from 2-4pm. No meetings in January and August. Annual membership is £5 single or £8 per couple. Afternoon meeting entry is £5. New members & visitors always welcome.

Southwick Camera Club

We are a friendly club, mainly working on painting and drawing, of mixed abilities with the only qualification being a love of art We meet at Southwick Community Centre on Wednesday evenings at 7.30 in the Glebe Room apart from August and late days in December. We welcome new members and you are welcome to look in on one of our sessions without obligation. We follow a structured programme with an annual subscription of £75 which includes entry to all our sessions. Further details from Secretary John Young 01273 885302 , email johnryoungac@yahoo. co.uk or from the Community Centre notice board.