FCA reg. We aim to make our website as accessible as possible. However if you use a screen reader and require debt advice you may find it easier to phone us instead. Freephone including all mobiles. Home How we help Equity release Home reversion plan. Home reversion plans StepChange Financial Solutions can help you sell all or part of your home, with no need to move. Home reversion plans are available throughout the UK. Risks of a home reversion plan The deeds and ownership of the property would be transferred to the home reversion provider.
Considering a home reversion plan? How to apply Speak to our expert advisors for free, impartial advice. You can call us for free on We'll talk through your situation to see whether a home reversion plan could be your best option. If you qualify, we'll guide you through the entire process. There's no need for a home visit; we'll do everything over the phone.
Common home reversion plan questions How much money will I owe the provider when the plan finishes? How much money can I borrow via a home reversion plan? Equity release options such as home reversion plans are not suitable for everyone. Note that home reversion plans are regulated by the Financial Conduct Authority FCA which means companies selling these plans must meet certain standards and follow set complaints procedures.
Reputable equity release providers will also be a member of the Equity Release Council. This is an industry body that sets certain rules for members to follow. If you are not sure a home reversion plan is right for you and you would prefer to avoid equity release altogether, there are other options to consider:.
Downsizing to a smaller, cheaper property can free up funds and still allow you to own your own home. It can be a good option if your children have left home and you feel your existing property is now too big, or if it requires a lot of maintenance or is expensive to run. The drawback, however, is that moving home can be expensive as there will be estate agent fees, legal fees, stamp duty and other moving costs to consider.
Depending on how much you need, you could consider borrowing through a personal loan or a credit card. Many personal loans offer competitive interest rates and some credit cards allow you to borrow interest-free for a number of months. The total cost of buying a home How much deposit do I need for a mortgage?
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Home reversion plans explained. Written by Nisha Vaidya, Content Editor. A home reversion plan is a form of equity release that enables you to sell all or part of your home in return for cash in retirement. What is a reverse mortgage? How do home reversion plans work?
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