Home Reversion
Home Reversion Plans is the act of selling all or a share of your home but continue to have the right to live in it for the rest of your life.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Equity release refers to home reversion plans and lifetime mortgages. To understand the features and risks ask for a personalised illustration
What is Equity Release through Home Reversion?
Calculations for Home reversion plans are dependent on your circumstances: Your Age, The value of your property, percentage of the property you wish to surrender and the rate offered by the provider.
If you which to release 20% of the value of your property, this can cost you from 60% to 75% of the value of your home. Plans are always calculated as percentage so if the property value increases the provider will receive the same share, but a higher value.
- You must be at least 65 years old
- The lump-sum is tax-free
- No monthly payments (some providers charge a nominal rent of £12 per year)
- You can sell all or a percentage of your home
For home reversion, we act as introducers only
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