What is a Home Reversion Plan?
A Home Reversion Plan also allows you to access all or part of the value of your property while retaining the right to remain in your property, rent-free, for the rest of your life. With a Home Reversion product the provider will purchase all or part of your house taking into account your age and your health and will provide you with a tax free cash lump sum (or regular payments) and a lifetime lease, guaranteeing you the right to stay in your property rent-free for the rest of your life.
There is no day-to-day interference and no restrictions on treating the house exactly as before; as a private home to live in freely.
Within these two categories, there are many different options available and it is important that your current and future needs are matched with the right type of equity release plan, which a VESP Mortgages qualified equity release adviser can help you with.
There are advantages and disadvantages in both types of plans so it is important for you to find out as much as you can, to get qualified advice and, if possible, to talk it over with your family to ensure you choose the best plan to fit your needs.
Information Only - VESP Mortgages do not have permissions for Home Reversion Schemes. However, we recognise the need to be informative about this product and if we identify that you would like to explore this option, we will refer you to a business partner.
