guide to equity releaseunlock equityEQUITY RELEASE GUIDE 
UNLOCK YOUR EQUITY
LIFETIME MORTGAGE OR HOME REVERSION ?


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WARNING

Increasing your income or savings can affect your entitlement to benefits.

Check out other options such as local authority grants and your entitlement to benefits

Always take professional advice and consider carefully all your options before entering into any Equity Release contract


 

Home Reversion

Home reversion schemes are a totally different way of releasing equity from your property compared with a lifetime mortgage.

The first point to consider is whether or not you are prepared to sell a share of part or all of your house to the lender in return for a cash lump sum or income.

You will not pay interest on that part you have sold as the lender will purchase their share of the property at a discounted price.

Home Reversion Calculator

By using the Home reversion calculator you will see that the amount you might obtain from the lender depends on age and sex and whether you are a couple or single person. The calculations are based on the life expectancy of the people remaining in the property. The shorter the life expectancy i.e. the older you are, the larger the equity release.

HOME REVERSION CALCULATOR

1st Applicant Age Male Female      

2nd Applicant Age Male Female

Property Value   £

Property Type       

Description            

Tenure                    

Property Age        

Post Code             

What % Of Your Home Will You Sell     
                                 


Home Reversion Contract

When you enter into a Home Reversion contract you sell the legal ownership of that part of the property to the lender but you retain the lifetime right (lifetime lease) for both of you to remain in the property rent free. In some cases you can release more equity by paying some rent. Remember though, that you remain responsible for the full upkeep and maintenance and insurance of the property.

Due to the fact that there can be many variations of a Home Reversion equity release scheme it is essential for you to consult a professional fully qualified Equity Release adviser. Always make sure that whatever scheme you use it is regulated by the F.S.A. Financial Services Authority and therefore gives you access to the Financial Services Compensation Scheme should the need arise.

For further information to help you understand the pros and cons of releasing equity from your home, why not download the F.S.A. Guide to Releasing Equity or request a printed copy.

 


The information contained throughout this site is not to be taken as advice or recommendation in any way. It is intended to give you an overview of what is available within the Equity Release market. Always seek professional advice before entering into any Equity Release contract.

Life Time Mortgages ~ What Is Equity Release ~ How To Release Equity ~ Equity Release Calculator ~ Guide To Equity Release

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