Home Reversion
Under a home reversion plan, home owners sell their property to a plan provider for a lump sum. They are designed for older home owners who wish to release the maximum amount of equity from their property. The home owners become a lifetime tenant in their home and usually, whilst they are not charged any rent, they are responsible for any repairs and maintenance. By selling their home to a plan provider, the owners are releasing the capital tied up in their home whilst the plan provider takes over the risk of the future value of the property.