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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.
Download this information in our Home Reversion Plan Factsheet
Equity release may involve a lifetime mortgage or home reversion plan. To understand the features and risks, ask for a personalised illustration.
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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