Why not use our simple form to request an estimate of how much you can borrow?
If, for example, you sell 50% of your property, when you die or leave the property, 50% of its value will go to the provider and 50% to your beneficiaries. If you do not sell your entire home initially, it may be possible to sell further shares in it, to receive further lump sums, as and when required in the future. Some providers will guarantee such loans.
The amount that you receive will depend on your age – the younger you are, the longer you are likely to live in your home, rent-free, so the lower the cash lump sum that will be offered. The amount is at a premium, not on a like-for-like basis, so selling 50% of your £200,000 home would net you approximately £60,000.
Home reversion plans are an attractive alternative to lifetime mortgages for some people, because they offer certainty: they are not loans and therefore do not attract any interest. However, they are not short term commitments and are not suitable for those wishing to buy back all or a share of their property during the term of the plan.
Equity release is the answer to so many financial questions. If you would like to know more about it, and see if it could be the right move for you, please book an appointment or request a call-back
We will be in touch as soon as possible to arrange a convenient time for a meeting, which is completely free of charge and without obligation.
I'll be in touch as soon as possible. If you'd rather call me in the meantime, please feel free to give me a call on 01489 45 45 45