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Since April 2007, home reversion plans have been regulated by the Financial Services Authority and currently only account for about 10% of all equity release sales. Despite this, home reversion plans are still an important consideration in the overall decision making process.
In return for selling part or all of your property to the reversion company, you receive a tax free lump sum or you can opt for a lifetime income.
You also receive a lifetime lease, which guarantees residence in the property for the rest of your life.
This is a home reversion plan. To understand the features and risks ask for a personalised illustration.