Home Reversion Plan
This involves the reversion company purchasing or arranging for someone else to purchase some or all of your property. You get the sale proceeds as a cash lump sum, although with some schemes the lump sum is invested to generate a regular income. Since the reversion company cannot re-sell the property until the earlier of your death or you move out, you will receive less than the market value for the percentage being purchased - typically 35% - 60%.
Generally speaking, the older you are when you start the scheme, the higher the percentage of the actual market value you'll receive for the portion of the property you are selling. When the property is sold, the reversion company receives the same percentage of the sale proceeds as that which they originally purchased. Your estate benefits from any rise in the value of any part of the property you may have retained.
Fee-Free Mortgage Advice*!
UNTIL FURTHER NOTICE OUR COMPANY WILL NOT BE CHARGING A MORTGAGE FEE, TO TAKE ADVANTAGE OF THIS OFFER, contact Andrea Riddell Mortgage Adviser on 01620822033
* For mortgage advice, we will not charge a fee, but will accept commission from the lender.
We usually charge of fee of £175 for mortgage advice. We will discuss this prior to completing any business with you.
For Lifetime Mortgages or Home Reversion Plans, we normally charge a fee of £250.
This is a Home Reversion Plan. To understand the features and risks, ask for a personalised illustration