To get the best deal on a Home Reversion Equity Release Plan, it’s important to:
Keep these factors in mind when shopping around for a home reversion plan to ensure you get the best deal possible. You can also contact us to speak to one of our experts who can help you compare home reversion plans and find the best deal for you.
A home reversion plan is a way of releasing equity from your property while you continue to live there. You sell all or part of your home to a home reversion provider in return for a lump sum or regular payments. The provider becomes the owner of your property or part of it, and you have the right to stay there for the rest of your life or until you sell the property.
Home reversion providers will usually offer you a lump sum in return for a percentage share of your property. For example, if your home is worth £200,000 and you sell 50% of it to a home reversion provider, you will receive a lump sum of £100,000. The provider will then own half of your property and you will continue to live there, rent-free.
You can choose to sell all of your property to the provider or just a percentage share. The amount of money you receive will depend on the percentage share you sell and the value of your property.
How is a home reversion calculated?
There are several factors that affect how much you will get from a home reversion plan, including: