Home Reversion Plan

Product Range


 We offer three products, they are:
  • Home Reversion Plan (no rent)
  • Home Reversion with Fixed Rent
  • Home Reversion with Escalating Rent

Below is a brief summary of each plan:

If you wish to know if our plans conform to the Equity Release Council standards click here.
Range
Home Reversion Plan

No Rent

You can sell between 25-100% of the property for a cash lump sum. The amount received will be based on your age(s) and your property value.  

You will be granted a Lifetime Lease which allows you to live in the property for the rest of your life rent free, providing you adhere to the terms and conditions of the plan.

You have an option to choose an Early Vacancy Guarantee, where the property is vacated within the first 5 years a cash sum would be payable calculated on 80% of the original valuation less the original cash release that was paid.  For joint applicants this applies in respect of the last remaining applicant. 

For example; Mr & Mrs Davison received a cash lump sum of £118,926 from their property which was valued at £300,000. Mr Davison became unwell and had to move into long term care. Mrs Davison now wants to move closer her to family. She would receive a payment of £121,074 should she choose to vacate the property.
 
Should you be interested in this product, please click the link find a financial adviser who will help you find the right plan.

For further information on the plan click on the links below:


 
Home Reversion Plan

Fixed Rent

You can sell between 25-100% of the property for a cash lump sum. You will have a fixed monthly rent payment (minimum of £200). The amount received will be based on an affordability check, your age(s) and property value.  

You will be granted a Lifetime Lease which allows you to live in the property for the rest of your life, providing you adhere to the terms and conditions of the plan. You will be at risk of losing your home if you do not keep up your monthly rent payments.

This plan comes with the following options are available;

  • Rent cease option; this allows you to select when you wish to pay rent to, the options are attaining age 80, 85 or 90 or you can continue to pay through the life of the plan. If there are joint clients these are the age of the youngest applicant.
  • Rent reduction option; this is an option for joint applicants only. You can opt for rent to be reduced by 50% on the death of the first spouse (subject to a minimum of £200 per month).


 


You have an option to choose an Early Vacancy Guarantee, where the property is vacated within the first 5 years a cash sum would be payable calculated on 80% of the original valuation less the original cash release that was paid. For joint applicants this applies in respect of the last remaining applicant.

For example; Mr & Mrs Brown received a cash lump sum of £129,247 from their property which was valued at £250,000, paying a fixed rent of £250 per month. After a few years Mrs Brown became unwell and had to move into long term care. Mr Brown wants to downsize and move near the coast. He would receive a payment of £70,573 should he choose to vacate the property.

Should you be interested in this product, please click the link find a financial adviser who will help you find the right plan.

For further information on the plan click on the links below:


 
Home Reversion Plan

Escalating Rent

You can sell between 25-100% of the property for a cash lump sum. You will have a monthly rent payment (minimum of £200), which will increase at 2.5% per annum compound. The amount received will be based on an affordability check, your age(s) and property value.  

You will be granted a Lifetime Lease which allows you to live in the property for the rest of your life, providing you adhere to the terms and conditions of the plan. You will be at risk of losing your home if you do not keep up your monthly rent payments.

This plan comes with the following options are available;
  • Rent cease option; this allows you to select when you wish to pay rent to, the options are attaining age 80, 85 or 90 or you can continue to pay through the life of the plan.  If there are joint clients these are the age of the youngest applicant.
  • Rent reduction option; this is an option for joint applicants only.  You can opt for rent to be reduced by 50% on the death of the first spouse (subject to a minimum of £200 per month).

 
You have an option to choose an Early Vacancy Guarantee, where the property is vacated within the first 5 years a cash sum would be payable calculated on 80% of the original valuation less the original cash release that was paid. For joint applicants this applies in respect of the last remaining applicant. 

For example; Mr & Mrs Jameson received a cash lump sum of £159,691 from their property which was valued at £325,000, paying an initial monthly rent of £200.  Mrs Jameson sadly passed away, therefore Mr Jameson wants to move closer to his family. He would receive a payment of £100,309 should he choose to vacate the property.

Should you be interested in this product, please click the link find a financial adviser who will help you find the right plan.

For further information on the plan click on the links below: