Equity Release Explained
What is Equity Release?
Equity Release allows a home owner to release some or all of the money tied up in their property, whilst still remaining in their property rent free for the rest of their lives. There are various types of equity release arrangements, the two main types being a rolled up mortgage and a home reversion plan. We only operate a home reversion arrangement.
What is a home reversion plan?
A home reversion plan allows you to sell part or all of your property to us and you will be able to continue to live in the property rent free for the rest of your life/lives without any interference from us.
Occupy Your Home
You will continue to occupy your home as you do now and your occupation will be covered by a legal agreement approved by your own solicitor.
For Example
If you sold us a 25% interest in your property and at the time that you vacate or your estate inherits the property is worth £200,000, then the property would be sold and you or your estate would receive £150,000 and we would receive £50,000.
Any Percentage
You can sell us any percentage of your property from 25% to 100%. There is no interest payable at any time, either by a home owner or their estate, and no fees are payable to us ever.