EQUITY RELEASE HOME REVERSION SCHEME

FULL REVERSION

The EQUITY RELEASE HOME REVERSION SCHEME allows homeowners over the age of 70 (Seventy years) to unlock the riches-capital-equity in their home and sell for a cash sum, whilst at the same time providing undisputed legal possession of their home for their lifetime, either on single life basis or joint lives.

In the case of married couples the legal agreement continues for the lifetime of the surviving partner.

The Scheme provides homeowners over the age of 70, with considerable cash-capital-equity value tied up in their home, the opportunity to release that value without selling and moving.

YOUR ESSENTIAL GUARANTEE:

1. You have the right to continue living in your home under the Home Reversion Scheme for as long as you wish. Undisputed legal possession for your lifetime.

2. The Home Reversion Scheme also allows you to move to another property should you need to do so.

3. For couples you have undisputed right to live in your home for both homeowners lifetimes.

4. Homeowners can also take advantage of our Shared/Partial Equity Reversion, so that they can retain part of their home's value to leave to family, special friends or charities.   

HOW YOU CAN BENEFIT

With the cash sum you could perhaps pay off an existing mortgage or a loan, carry out essential repairs to your property, install central heating or double glazing, make an income producing investment or simply enjoy a higher standard of living. The exact amount that you receive will depend on a number of factors, the ages of the applicants, the location of the property, also its type, condition and the valuation. As a rough guide you could receive up to 62% of the current market vacant possession value as a lump sum.

QUALIFICATIONS    

Both Husband and Wife must have attained the age of  70 (Seventy) to Qualify.

No medical examinations are required, but where a life threatening condition exists, we may be able to offer more favourable terms and therefore supporting medical evidence may be required.

SUITABLE PROPERTY

The property must be Freehold or Long Leasehold.   Flats and Maisonettes must be purpose built.  Retirement homes, Apartments / Flats situated in retirement complexes are unsuitable due to age restrictions of persons able to purchase such properties on vacant possession.   Purpose built homes considered as mobile homes are also unsuitable.

ADDITIONAL CASH SUMS.

Should you find that you have to leave your home after taking out a FULL HOME REVERSION SCHEME due to illness, having to move into say a Nursing Home or Sheltered Accommodation, therefore voluntarily giving up possession, you could be entitled to an additional cash payment.

  DETAILS: PARTIAL EQUITY RELEASE REVERSIONS