The guidance and/or advice contained within this website is subject to UK regulatory regime and is therefore targeted at consumers based in the UK only.
A home reversion plan allows you to release a percentage of the value of your home.
You effectively exchange a percentage of the value in your property to achieve the amount you wish to raise.
Your home will be valued by a surveyor working with the provider. You will not receive the full market value of your home as the lender is offering you a tax free lump sum and is allowing you to live in your home rent free for the rest of your life.
With this plan, your age is a primary factor in determining the amount you will receive for the share you exchange. Other factors such as your health, gender and the value of your property can also be taken into consideration.
Call us on 01625 503000, or apply here
The overall cost for comparison is 6.1% APR. The actual rate available will depend on your circumstances. Ask for a personalised illustration. Adding existing debts to your mortgage will both extend the repayment term and increase the overall cost of the debt.
There will be a fee charged for mortgage advice. Our typical fee is £2500 for all types of mortgages except Lifetime Mortgages, which will be charged at £395 + 2% of the total loan amount. Example: a £50,000 lifetime mortgage loan, the fee payable would be £395 + 2% of £50,000 (£1,000) = £1,395. All advice fees are payable upon completion. Moneypoint Finance Limited is authorised and regulated by the Financial Services Authority, and is entered on the FSA register (www.fsa.gov.uk/register/home.do) under reference 303863.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. Calls may be recorded for training and monitoring purposes.