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The older you are when you start a home reversion plan, the higher the percentage you’ll get of your home’s market value. You will hold a lifetime lease that allows you to stay in your home and on death or sale of the property the reversion company gets the share you originally sold.
Equity release plans allow you to use the money in your home, to increase your income in retirement.
There are two types of equity release plan:
Home reversion plans work by you selling part, or all of your home to a reversion company. The reversion company buys at under market value, and then benefits from increases in house prices throughout your lifetime.
Although you may sell your home in full, you still remain living there. You get a lifetime lease that allows you to stay in the house rent free, or with a nominal low rent - and there are no interest repayments. The home reversion plan ends when you die, or when the property is sold.
Call Just Retirement Solutions on 01737 233462. Lines are open 9am to 5pm, Monday to Friday (except Bank Holidays). Calls are charged at local rates and may be recorded or monitored.
The Moneyfacts Equity Release Advice Service is provided by retirement expert, Just Retirement Solutions Limited.
Just Retirement Solutions has helped retirees release an average of £44,673* from their homes. Their advice is always quality checked and they only recommend plans that come with a no negative equity guarantee. Their expert team can answer your questions, guide you through the process and they’ll only recommend equity release if it is right for your circumstances.
With equity release you can stay in the home you love, and whilst the value of your estate will go down, it is possible to leave behind a legacy for your loved ones.
There’s no obligation to act on our advice and you’ll only be charged an advice and arrangement fee of £749 if you purchase a product that Just Retirement Solutions recommends.
Taking out an equity release plan is an important decision, so you should involve your friends and family. The value of your estate will be reduced and it can affect your entitlement to means-tested state benefits. For this reason everyone receives a full state benefits review. In fact, 2 in every 5 people that Just Retirement Solutions speaks to are eligible to claim benefits, and new claims can be worth up to £2,746 a year**.
*Average completed case size of unique JRS customers, between 2004 – 31 January 2016.
**Just Retirement Solutions research July 2014 – June 2015.
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