Home reversion involves a company buying your home or a part of it. In return you get a cash lump sum or an income that could boost your retirement pot.
The older you are when you start a home reversion scheme, the higher the percentage you’ll get of your home’s market value.
You get the right to carry on living in the home under a lifetime lease.
The terms of the lease will vary depending on which reversion you choose.
However, home reversions could have major implications for tax, benefits, inheritance and your long-term financial planning so be sure to speak with an expert before moving forward.