It provides you a guaranteed lifetime income keeping the lifetime lease (right to live in it rent free for the rest of your life). With no monthly payments to meet, with no more community charges, with no more property taxes, and with no more insurance charges.
You can usually raise more money from your home with a reversion plan than a lifetime mortgage would allow.
In the case of descendents, there are methods for permitting them to continue receiving the rent or a one-time payment.
You can find answers to many of your doubts by visiting our FAQS.
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Lifetime Mortgage vs. Home Reversion Plan
Lifetime Mortgage vs. Home Reversion Plan. Comparative Study.