Equity Release - Home Reversion Schemes

  - Compare a selection of home reversion equity release schemes. Make sure you also discuss your options with a financial adviser too.
Also look at:

Compare Home Reversion Schemes

 Min AgeMin Property ValueMin LoanMax Loan 
 
Bridgewater Equity Release
Flexible Release Plan
Flexible Release Plan
65£120kLesser of 25% reversion or £25k£250kGo to Site
Product Fee: None
Bridgewater Equity Release
Maximum Release Plan
Maximum Release Plan
65£120k100% reversion only£250kGo to Site
Product Fee: None
Bridgewater Equity Release
Secured Escalating Release Plan
Secured Escalating Release Plan
65£120kLesser of 25% reversion or £25K£250KGo to Site
Product Fee: None
Hodge Lifetime
Shared Growth Option
Shared Growth Option
65£60k30% of reversion90% of reversion or £250KGo to Site
Product Fee: None
Newlife - Home Related Finance
Optimum
Optimum
65£75k£25k£250kGo to Site
Product Fee: Arrangement £695
Newlife - Home Related Finance
Options
Options
65£75k£25K£250kGo to Site
Product Fee: None
Last Updated: Tuesday 14 July 2015 12:07

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Equity release may involve a lifetime mortgage or home reversion plan. To understand the features and risks, ask for a personalised illustration.
 
A Home Reversion plan involves a company buying your home or a part of it. In return you get a cash lump sum or an income. You will only receive a percentage of the market value of your home because the buyer:
  • allows you to carry on living there
  • cannot sell it until you die or move into permanent long-term care

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: home reversion plans explained

  • Sell a part, or all of your home
  • No interest repayments
  • Safeguard a portion of your home as an inheritance
  • It’s best to speak to a financial adviser, as well as anyone who stands to inherit your estate

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.

Home Reversion Plans
Advantages Disadvantages
Green tick Stay in your home
Green tick Get a lump sum or an income
Green tick Leave a stake of your home as an inheritance
Green tick The percentage of your home that the reversion company owns does not increase
Green tick Because the reversion company owns a percentage stake of your home, you both share in rises and falls in house prices
Red cross You sell part, or all of your home at under market value
Red cross If you die in the early years you will have sold a cheap stake in your home
Red crossEquity release could affect entitlement to certain state benefits

Download PDF Download this information in our Home Reversion Plan Factsheet

WarningEquity release may involve a lifetime mortgage or home reversion plan. To understand the features and risks, ask for a personalised illustration.

What next?

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.

If you decide to take out a plan, there will be a fee by Just Retirement Solutions Limited of £749 for advice and arranging a recommended equity release plan. You will only be charged if you decide to take out a plan. Their advice service carries no obligation.

Equity release may not right be for everyone. If may affect your entitlement to state benefits and will reduce the value of your estate.

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