Home Reversion Schemes are a way of releasing equity from your home. They are not a mortgage against your home as you don't actually 'borrow' money like with Lifetime Mortgages, but when you simply transfer a portion of the ownership of your home to a 'Reversion company' or individual in return for a set sum of money.

A reversion company buys, or arranges for someone else to buy, part or all of your home and you get the sale proceeds as a cash lump sum, an income, or a combination suited to your circumstances. You can do whatever you wish with the lump sum (legally anyway) and if you need provision of an additional income some schemes can do this for you, or we can help you invest the lump sum independently.

You will normally be paid less than the full market value of your home - typically between 35% and 60% - because the buyer cannot re-sell the property until you die or until you move out (perhaps into a care home). The older you are when you start the scheme, the higher is the percentage you'll get. The minimum age for these schemes is usually higher than for lifetime mortgages. You also usually get a lease giving you the right to carry on living in the home for the rest of your life (or until you no longer need it). Usually you do not pay rent, or if you do it is a token amount - with some schemes however, you can pay a higher rent in return for more money from the sale. Once the scheme has started, the buyer of your home benefits from any rise in its value - or indeed loses from any decreases! If you have only sold part of your home, you benefit from any rise in the value of the part you have kept.

Making such important financial decisions is never going to be easy and therefore it is vital that you seek independent financial advice, gaining access to the whole 'equity release' market and rest assured that you will receive tailored advice and be recommended the most appropriate 'plan' or direction to suit your own individual needs and circumstances.

We at Balfour Equity Release pride ourselves on our ability to guide you through the whole process of releasing equity from your home, giving you clear, understandable information and providing the highest standards of advice. We offer you a free, no obligation, confidential consultation! So contact us now and see how we can help you.