With a home reversion plan you sell part or all of your home to a reversion plan company in exchange for a tax-free cash lump sum and a guaranteed lifetime lease with no monthly repayments to meet.
You stay in your home rent free for as long as you choose and provided you only sell part of your property, you should be able to leave the rest behind as an inheritance to your beneficiaries. Both you and the reversion scheme company share in any increase in your property's value, providing you have not exchanged 100% of its value.
- You must be 65+ years old to consider a home reversion plan.
- There are no monthly repayments to make.
- You benefit from any increase in value of the percentage of the property that you still own.
- The older you are, the more money you will be able to release with a reversion plan, however, the cash or income raised will not represent the true value of the part of the property which is sold.
It’s important to remember that an increase in your capital or your income which arises from taking out a lifetime mortgage or a home reversion plan may affect your entitlement to State benefits. We shall be pleased to advise you of your options.
This is a home reversion plan. To understand the features and risks ask for a personalised illustration
For details of our fees for mortgage advice, please see the “How we are paid” page.
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