Home Reversion

 

Home reversion allows you to sell part or all of your property to a home reversion provider. In return you receive a tax free lump sum or you can opt for a lifetime income.
 

You also receive a lifetime lease, which guarantees residence in the property for the rest of your life. 

Advantages

  • Plans are available from 60, or if poor health persists, from age 55
  • A guaranteed percentage of the property will pass to your beneficiaries
  • You will benefit from the increase in value on your share of the property
  • There is no accumulation of interest, hence no growing debt
  • The older you are, the more cash you can release
  • It raises more money than a lifetime mortgage

Disadvantages

  • You will no longer completely own your own home
  • If you sell all your property, your estate will not receive any inheritance
  • You will not retain any property price escalation on the proportion of the property sold
  • Reversion companies are more selective about the properties they release on
  • If you die shortly after taking out the plan, there could be a disproportionately high loss to your estate


For equity release products , we can be paid by commission, a fee, or a combination of both. Our typical fee is £595.

EQUITY RELEASE MAY INVOLVE A LIFETIME MORTGAGE OR A HOME REVERSION PLAN. TO UNDERSTAND THE FEATURES AND RISKS, PLEASE ASK FOR A PERSONALISED ILLUSTRATION.

A LIFETIME MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.

A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

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The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily restricted at consumers based in the UK. 

The Financial Advice Bureau is an appointed representative of TenetConnect Limited, which is authorised and regulated by the Financial Conduct Authority. TenetConnect Limited is entered on the Financial Services Register (www.fca.org.uk/register) under reference 149826.

Registered office: Sovereign house, 12 - 14 Warwick Street, Earlsdon, Coventry, CV5 6ET. Telephone: 02476 712770.

Principal : Mark Garrood

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