Lifetime Mortgages and Home Reversion plans

Advantages and disadvantages of Lifetime Mortgages and Home Reversion Plans

Lifetime Mortgage

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

When you are considering taking out an equity release product we highly recommend you consider other alternatives that may be more suitable for you.

Equity release may involve a lifetime mortgage or home reversion plan. To understand the features and risks, ask for a personalised illustration.

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