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Home reversion plans
Available to homeowners aged 60 and over home reversion scheme allows you to sell a percentage of your property to a provider, which pays you a tax-free lump sum in return. Although the lump sum is significantly less than the market value of your home, you remain a co-owner of the property (or a beneficial owner if you sell more than 50%) and continue to enjoy the right to live in it for the rest of your life.
Drawdown lifetime mortgage
Lump sum life mortgage
A lump sum lifetime mortgage gives you access to a one-off sum of cash, and you’ll still own your own property. There are different ways to pay the interest too – either roll-up or interest only; or a hybrid where you can change from interest-only to roll up at any point.
When buying a property with an intent to rent it out there is a special type of mortgage that you need to apply for. We actually have advisers with extensive experience and knowledge about buy-to-let mortgages, so give us a call or check out bestbuytolet.co.uk for more details.