Equity Release
A lot of people today are using home reversion plans as an equity release alternative. Other than getting a cash lump sum to spend on whatever you want, you can also continue to live in your home rent-free until you die or go into long-term care.
Another benefit of a home reversion plan is its portability. If you decide to move the plan still remains intact as long as your new home meets the conditions of the company provider. However, the company will own the full market value of your property since complete ownership will be transferred. This you may want to consider if you wish to leave an inheritance.
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