Atwoods Limited: 01372 459777

G C Stevens: 01932 820444

Reversion Schemes

These Equity Release schemes are where you sell all or part of your home in return for a cash lump sum which can be used for any purpose you wish. Once you have completed the Equity Release you will have the right to stay in your home rent free until you die or you move into care and you don't need to make any monthly repayments.

This type of Equity Release scheme was very popular until Lifetime Mortgage Equity Release schemes were introduced, but now only make up approximately 5% of the equity release market. They can be useful where people want to make sure that they leave some capital to their family as only part of the house needs to be sold to the Equity Release company. Once the applicants die or move into care the Equity Release company would sell the property to recover their share and the balance of the value of the property would then be passed onto the beneficiaries on death.

This type of Equity Release scheme can be useful for older people who want to release as much money from their house as possible as they can provide more than Lifetime mortgages in most cases. However, this type of Equity Release scheme is generally more likely to be suitable for those with higher property values who do not need the maximum amount available and may wish to leave money to family and friends.

Both Reversion and Lifetime mortgage Equity Release schemes can be used for inheritance tax planning. However, great care is needed when considering this option as the long term costs can often out weigh the potential tax savings.

To understand the features and risks, ask for a personalised illustration




Our Fees

Our minimum fee is £1,500 of which £500 is payable at outset and is non-refundable. We may get paid a procuration fee from the lender and we will use this to offset the remaining £1,000, up to a maximum of £1,000.

Example 1

The initial fee is £500 and we receive a procuration fee of £900 from the lender. The balance of £100 (£1,500 less the £500 and £900) is payable by you at completion.

Example 2

The initial fee is £500 and we receive a procuration fee of £1,150 from the lender. As we have received more than our minimum fee no further payment is required.

No charges or fees will be incurred without prior agreement.