Home Reversion Schemes – Why Am I Still Responsible for the Maintenance of my House if I No Longer Own it?
Home reversion plans come with certain caveats which potential applicants should be aware of before committing a lifetime to them. In essence, with a home reversion scheme, you sell a percentage value of your property to a home reversion provider in exchange for tax free cash. Because home reversion plans do not involve taking out […]
Read MoreHome Reversion Explained
An obvious, albeit difficult way to release the equity in your property is to sell it and move out, and equity release offers a more convenient alternative to this. Home reversion is a type of equity release, but unlike lifetime mortgages, it does not involve taking a loan out against the property. Home reversion involves […]
Read MoreAdvantages and Disadvantages to a Home Reversion
Home reversion is a type of equity release scheme, where you can sell the value of a portion of your property in exchange for cash. The main attraction of equity release schemes is the fact that you can have access to the equity built into your home without having to sell your property and move […]
Read MoreWhy are Home Reversion Plans Less Popular than Interest Only Lifetime Mortgages?
Home reversion plans have seen a marked decline in popularity in recent times. This could be due to a variety of factors, not least because newer, more flexible equity release solutions such as interest only lifetime mortgages are now available. Home reversion plans were much more popular when the only alternative in the equity release […]
Read MoreCan Negative Equity Exist with a Home Reversion Scheme?
One of the most significant concerns that people have with equity release schemes is that compounding interest on the loan can increase the debt to a point where the sale value of the house is not sufficient to repay the debt. A situation wherein the debt is larger than the value of the home, so […]
Read MoreDoes a Home Reversion Scheme Force Me to Sell 100 Percent of my House?
The two common misconceptions about home reversion schemes are that you are required to sell 100% of your property to the loan provider, and second, that you cannot release the full amount of equity from your house. Both of these are false. It is not mandatory to exchange 100% of your house to the equity […]
Read MoreIs Home Reversion a Type of Equity Release Scheme?
Home reversion schemes requires the owner to sell part or all of their property. The capital given in this scheme can be a greater lump sum offered by their counterparts – the lifetime mortgage. It is a common misconception that the property is valued at lower than normal. However, the valuation should be undertaken & […]
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