Equity Release Schemes
UK equity release schemes
Equity release schemes are the mechanism by which providers offer equity release solutions to clients.
There are two main equity release schemes offered:
With home reversion you sell part or all of your property to a home reversion company.
You continue to live in the property for a nominal rent and the home reversion company takes a percentage of the proceeds from the sale of the property representative of the percentage they own when both you and your partner (if it is a joint scheme) die or move into long term care.
With a lifetime mortgage you retain full ownership of your property and a loan is extended to you which is secured against the property and paid back with interest from the proceeds of sale of the property.
As with home reversion you continue to live in the property until both you and your partner (if it is a joint scheme) die or move into long term care.
If you feel that equity release may be right for you, or if you’d just like to know more you can call 0800 622 6724 or request a call back. One of our team will be able to discuss with you your circumstances, review your eligibility and if appropriate arrange an appointment for you with an adviser.
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