How does this 'Home for Life Plan' work?
Significantly reduce the price you pay for your next home...
The Home For Life Plan enables you to significantly reduce the price you pay for your next home. This saving means that you could afford a better property, move to a preferred location, raise money from the sale of your current home, pay off debts, give an early inheritance or even buy a second home.
This is how the Home For Life Plan works:
- An individual Home for Life Plan budget is created for you, calculated on your age, gender, marital status and property criteria. This can include a discount of up to 40% on the purchase price of your next home.
- Find and choose a property with your new increased budget.
- Homewise will buy the property on your behalf using their experience and buying power.
- You pay your one off discounted Home for Life Plan price. There won’t be any interest or rent to pay because the Home for Life Plan is not a mortgage or loan
- You can choose to retain up to 50% of your new property's future value. This can be used to give your loved ones an inheritance.
- You will be granted a lease for your lifetime/s on your new property, which guarantees that you won't be forced to move. The lease is registered with the Land Registry by your solicitor.
- You can move again if you decide that's right for you thanks to the flexibility guaranteed by the Home for Life Plan.
- You choose an independent solicitor who will carry out your legal work. They will receive full details of the Home for Life plan prior to completion and are required to sign a solicitor's certificate to confirm that that they have fully explained the plan to you.
- The property reverts to Homewise at the end of your life or if you have to move into long-term care permanently. If you chose to retain some of the property's value, it is sold and you or your estate will receive your share of the net sale proceeds.
Complete our quick contact form to talk to one of our advisors about the Home for Life plan.
Or give us a call:
01403 390 159