Best Buy Home Reversion Schemes

Best Buy Home Reversion Schemes

Best buy home reversion schemes are complex equity release schemes, which see an equity release scheme provider to lend a borrower a non-repayable sum of capital, accompanied with guaranteed lifetime occupancy to their home, in return for part of full ownership to the plan holder’s property. Our specialist advisers offer help for clients seeking best buy home reversion schemes, supporting clients from their initial enquiry until the completion of the transaction.

Best buy home reversion schemes are terminated at the event of the plan holder’s death, or if the borrower moves into a care home indefinitely. When the contract is terminated, the provider has the right to sell the property and profit from the proceeds of the sale. Part home reversion schemes permit the plan holder’s successors to attain a proportion of the sale proceeds.

There are several advantages associated with in home reversion schemes. To begin with, no form of mortgage repayment is required by the plan holder, allowing the borrower to use the money to their intention. In addition, inheritors of the borrower may be able to profit from from the sale of the property after the borrower’s death.

However, restrictions may be attached when arranging best buy home reversion schemes. If the borrower dies soon after the arrangement has been finalised, it may result in a costly procedure for the borrower’s estate. The borrower also concedes the right to formulate future plans in regards to their home. Also, state benefits may be reduced if best buy home reversion schemes were based on income. If an individual needs any additional information on the positive and negative aspects of best buy home reversion schemes, our financial advisers are on hand to offer assistance.

Although uncommon, the plan holder may be eligible to move homes. This would only be achievable with part home reversion schemes; otherwise the owner would have full ownership of the property.  The individual may pay for the new house using their share from their current property.  

Best buy lifetime mortgages differ from best buy home reversions schemes, as the borrower is required to repay the capital borrowed at the beginning of the arrangement. The borrower must also repay interest on top of the full mortgage repayment, which may be variable or fixed.

The individual must distinguish the possible drawbacks that are associated with best buy home reversion schemes. Our financial advisers offer backing for clients who are in search of best buy home reversion schemes as a means of generating extracting additional income, or capital.

If you have any additional queries on best buy home reversion schemes, contact us today.

This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.

CHECK THAT THIS MORTGAGE WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE.

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This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.

CHECK THAT THIS MORTGAGE WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE.