Home Reversion

Home Reversion schemes are designed also to release money to householders.  In these schemes the householder sells a share of the value of the house in return for a sum of money.  The buyer (usually a major lender) pays a discounted price for the share but owns a share of the property in return for the money paid over to the owner.  The owner is granted a right to occupy the house till death or going into care (or the second death or second party going into care if the house is jointly owned).  No interest is paid or accrued on these schemes but when the householder dies or goes into care the house is sold and the lender receives the value of the share of the property previously bought.  The balance of the value of the house goes into the deceased’s estate.

It is wise to take independent help and advice please phone our Senior Issues Team 0845 8553300 or alternatively please fill in the form below to enable us to contact you or send out further information.

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