Home Reversion Plan Providers

Bridgewater was established in 1998 offering a variety of equity release products including the home reversion plan.

Home reversion plan providers. Your equity release adviser will explain how the two different methods work and the advantages and disadvantages of the. A home reversion plan is when you sell part or all of your property to a provider which pays you a tax free lump sum in return. Home reversion plans function as an alternative to the more standard products available in the equity release marketplace. How much can i borrow with a home reversion plan.

The main providers of home reversion schemes are currently bridgewater and newlife. In the same way that lifetime mortgage lenders vary the amount they are prepared to advance according to age home reversion providers demand a bigger share of equity from younger borrowers and less from those. If you sold the entire property to them they will get all of the proceeds. A home reversion plan is a type of equity release scheme where part or all the homeowners property is sold to the plan provider in exchange for a tax free lump sum or regular payments.

A lifetime tenancy is then created protecting the homeowners residency and freedom to live in their home rent free for the rest of their life. They could have major implications for tax benefits inheritance and your long term financial planning. A home reversion plan is one of the ways home owners aged 55 and over can release equity from property. A home reversion plan could allow you to sell all or part of your home in exchange for a cash lump sum and rent free lifetime tenure in your home.

With a home reversion plan you sell all or part of your home in return for a cash lump sum a regular income or both. This lump sum is significantly less than the market value of your. Bridgewater flexible release plan. Home reversion plans were the forerunner to today s lifetime mortgages and they are a type of equity release scheme where part or all the homeowners property is sold to the plan provider in exchange for a tax free lump sum or regular payments.

You should always get financial advice before taking out a home reversion plan or any other kind of equity release scheme. How do home reversion plans work. Releasing equity this way allows you to access the money tied up in your home with no need to make repayments. When your home is eventually sold the reversion company gets their share of the proceeds of the sale.

They are also a member of the equity release council and maintain the erc code of conduct. Reversion plans are not as popular as lifetime mortgages accounting for fewer than 1 of equity release cases in 2018 according to equity release council figures. The homeowner sells part of or all of the property in exchange for a tax free lump sum payment s.