Home Income Plans
Home Income Plans allow you to mortgage a percentage of your property to a provider who in return gives you an annuity (a regular income for the rest of your life based on your age and sex). Unlike a reversionary scheme you automatically have the interest on the loan deducted from the annuity payments each month. Whilst this means that only the capital is repaid on sale of your house on death or entry into long term care it means that the net income received from the annuity is reduced. Due to tax relief on mortgage payments no longer being available and the low rates offered on annuities you currently need to be 80-85 at the outset for these schemes to prove attractive. To find out more about these schemes please download our brochure or call us on
Freephone 0800 970 4883.
Statutory Warning
This is a Lifetime Mortgage. To understand the features and risks, ask for a personalised illustration.
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