Reversionary home income plan

A reversionary home income plan is a type of equity release scheme that allows a homeowner to access some of the money tied up in their home.

In such a scheme, the homeowner sells all or part of the property at less than its market value in return for a tax-free lump sum, a regular income or both.

The important part of the scheme is that the homeowner continues to live in their home but this time as a tenant, albeit without paying rent, until death or they move out.

Post Author: Frances Traynor