Equity Release

Two types of equity release scheme are available. These are Home Reversions and Lifetime Mortgages.

Home Reversion Schemes
Equity Release has now become a popular way for people of retirement age to raise capital so as to provide monies to supplement their pensions, which might otherwise be insufficient to meet their needs, without having to move home or downsize.

Under a home reversion scheme the owner sells the whole or just part of their property to an investor at a discounted price (calculated by reference to the owner's age). In return the owner receives a guaranteed lifetime lease, i.e. a guarantee that they will be able to remain in their home for the rest of their lifetime. These schemes are now fully regulated but nonetheless they remain complex in terms of the documentation required. We have substantial experience in this field, not only acting for the homeowners but also having acted for a number of substantial investors for many years now.

For More Information
Please call 0208 864 0722 to get in touch with Richard Hornby or e-mail:
• Richard Hornby: richard.hornby@lynch-hall.co.uk


Lifetime Mortgages
These can be lump sum schemes or e.g. monthly income schemes. In general terms the lender provides tax free payments, either a lump sum or a monthly income. Either way, nothing is repaid until the house is sold. The interest is simply added to the amount borrowed, i.e. it is “rolled up”. There are now a number of lenders in the market providing these schemes. As with home reversions however, although also fully regulated, the legal aspects of lifetime mortgages are complex and require advice and assistance. Again, we have substantial experience in this field.

For More Information
Please call 0208 864 0722 to get in touch with either Richard Hornby or Simon Glick
or e-mail either of them:
• Richard Hornby: richard.hornby@lynch-hall.co.uk
• Simon Glick: simon.glick@lynch-hall.co.uk