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A type of equity release scheme whereby you sell all or part of your home to an investment company. You receive a lump sum, a monthly income or both, based on the value of your home, but the actual amount you receive will be adjusted according to your age and sex.
You continue to live in your home but pay no rent, or a very low nominal rent, until it needs to be sold, either because you die or need to move into residential care.
When your home is sold, the investment company receives the proceeds of the sale, or a proportion of them.
What should I consider before going
ahead with a home reversion scheme?
There are many things to consider when using a home reversion scheme to raise money, and professional advice should always be sought. See also Equity Release.
© John Bramwell 2005
BV Services is Authorised and Regulated by the Financial Services Authority
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