Equity Release – Home Reversion

A home reversion plan allows you to release a percentage of the value of your home, as cash.

The lender will appoint a surveyor to value your home. You will not receive the full market value of your home, as the lender is offering you a tax-free lump sum and is effectively allowing you to live in your home rent-free.

With home reversion plans, there are a number of factors which will help determine the amount you will receive for the share you exchange.  Your age is the primary factor; other aspects such as your health and the value of your property may also be taken into consideration.

The plan must be paid off once your property is sold; therefore this type of equity release may be unsuitable for anyone planning to leave their entire property (as opposed to the monetary value of the property) as an inheritance.

To find out more about equity release and home reversion plans, please contact your PK Group Advisor today.  Or, if you have not worked with us before, please do get in touch and one of our mortgage specialists will be happy to assist.