Home Reversion Plans
A home reversion plan involves selling a percentage of a property to a reversion company for a fixed amount. In some cases this is easier to explain. Homeowners will receive a certain amount of the value of the property sold depending on their age. When the property is sold, the reversion company receives the same percentage of the sales proceeds, which was originally borrowed against the value of the home. These are the oldest forms of Equity Release dating back to the 1960s.
For mortgages we generally do not charge a fee However, we reserve the right to do so and you have the right to choose this method of remuneration should you prefer. In this instance we will make a charge of £2,000 and we will rebate any commission we receive from the lender back to you. Should we choose to charge a fee and you are happy for us to receive commission from the lender, we will reduce this fee to £225.00 We will discuss this prior to any business being conducted with yourselves.
This is a Home Reversion Scheme. To understand the features and risks, ask for a Personalised illustration.