Advantages and disadvantages of Lifetime Mortgages and Home Reversion Plans
Home Reversion Plan
Any money you release is completely tax fee
You sell your property
You can sell part or all of the property.
You can remain in the property until you die, move out of the property or move into long term care
You have to make monthly repayments
You can transfer the plan to a different property
Interest is charged and will ‘roll up’ each year, increasing the debt each year
You are mortgage free
The amount you can leave as an inheritance will be decreased
You are covered by the No Negative Equity Guarantee – you never owe more than the value of your home
You could find means tested benefits are affected by having extra cash
Equity release may involve a lifetime mortgage or home reversion plan. To understand the features and risks, ask for a personalised illustration.
Call back request
Enter your name and telephone number below and one of our friendly advisers
will call you to discuss releasing equity from your home.