Ask how much you can borrow

Why not use our simple form to request an estimate of how much you can borrow?

Ask us now

Home Reversion Plans

Ask how much you can borrow

Home reversion plans offer an alternative to lifetime mortgages. Home reversion plan providers purchase some or all of your property in return for a cash lump sum. There is no loan and no interest to pay, but you will still be responsible for the upkeep of the property and you have a clear guarantee that you can live in the property as long as you like until you die or move into long term residential care.

Part selling

If, for example, you sell 50% of your property as part of your home reversion plan, when you die or leave the property, 50% of its future value will go to the provider and 50% to your beneficiaries. If you do not sell your entire home initially as part of your home reversion plan, it may be possible to sell further shares in it, to receive further lump sums, as and when required in the future.

Considerations

The amount that you receive will depend on your age and property value. You have to be 65 years or over to qualify for a Home Reversion. 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 could net you approximately £60,000.

No interest

Home reversion plans are potentially an 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 not suitable for those wishing to buy back all or a share of their property during the term of the plan. If you decide you would like to buy back the part of your property you sold, you would need to buy it back at the market value which means paying more than the amount that you received.

What my customers say about working with me

“Thank you so much for arranging our equity release mortgage. When my wife became ill, the downsize move we anticipated was out of the question. Releasing equity from our house has enabled us to concentrate on her treatment while planning the things we want to do without worrying if we can afford it. For example, our son in Thailand has a new baby so we can now fly out to see them with a little more comfort than we have in the past. We wish you every success in your business.”

David and Jo Allen

What my customers say about working with me

“Thank you so much for arranging our equity release mortgage. When my wife became ill, the downsize move we anticipated was out of the question. Releasing equity from our house has enabled us to concentrate on her treatment while planning the things we want to do without worrying if we can afford it. For example, our son in Thailand has a new baby so we can now fly out to see them with a little more comfort than we have in the past. We wish you every success in your business.”

David and Jo Allen

Why not get in touch and see how we can help?

Equity release could be the answer to some of your financial questions. If you would like to know more about it, and see if it could be the right option for you, please book an appointment or request a call-back

Equity release will reduce the value of your estate and may also affect your entitlement to means-tested benefits. You should always think carefully before securing a loan against your home.

Unless you decide to go ahead, our service is completely free of charge as our usual advice fee of 1.99% of the amount released would only be payable on completion of a plan, subject to a minimum advice fee of £1499.

A lifetime mortgage is the most popular form of equity release, and is a loan secured against your home that’s typically repaid when you pass away or go into long-term care.

c