Home Reversion Plan

An alternative scheme to equity release is a 'Home Reversion Plan', where your property is technically 'sold' to a lender. You receive the full value of the property in a lump sum and are then granted a lease for your lifetime that allows you to live in the property rent free, or at very low rent.

A specialist solicitor will advise you on the legal implications the process will have regarding your property, and the effect this will have on those named in your will. Most plans actually require a solicitor to advise you as part of the legal formalities involved.