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  • FIRST POST
    • ravravrav
    • By ravravrav 4th Jun 12, 11:59 AM
    • 103Posts
    • 15Thanks
    ravravrav
    Home For Life plan
    • #1
    • 4th Jun 12, 11:59 AM
    Home For Life plan 4th Jun 12 at 11:59 AM
    I've been searching online and found a few houses with 'low' prices but the descriptions say price reduced for over 60s under home for life plan. I just wondered whether there was any similar scheme for ftb's?
Page 1
    • Thrugelmir
    • By Thrugelmir 4th Jun 12, 2:13 PM
    • 51,336 Posts
    • 43,178 Thanks
    Thrugelmir
    • #2
    • 4th Jun 12, 2:13 PM
    • #2
    • 4th Jun 12, 2:13 PM
    Only applicable to those with a capital sum at their disposal. Also its not a purchase either but a long term rental. Hence why targeted at those over 60. A totally different market to FTB's.
    “A man is rich who lives upon what he has. A man is poor who lives upon what is coming. A prudent man lives within his income, and saves against ‘a rainy day’.”
  • doverrog
    • #3
    • 9th Sep 12, 12:52 PM
    • #3
    • 9th Sep 12, 12:52 PM
    Has anyone used the Home for Life Plan yet?
    How was it and were you satisfied?
    Are there any problems and what are the disadvantages?
    • Wh05apk
    • By Wh05apk 10th Sep 12, 7:57 AM
    • 2,913 Posts
    • 1,321 Thanks
    Wh05apk
    • #4
    • 10th Sep 12, 7:57 AM
    • #4
    • 10th Sep 12, 7:57 AM
    If you are referring to http://www.homewise.co.uk/ then this is not a long term rental, but an equity release scheme, which will be repayable on death/sale/going into care.

    Several insurance companies run equity release/lifetime mortgage schemes, if you are interested, you should speak to a qualified advisor.
    I am a mortgage adviser.

    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Fightingfortruth
    • #5
    • 15th Sep 12, 1:47 PM
    Just make sure..
    • #5
    • 15th Sep 12, 1:47 PM
    that before you enter into this plan you check out your alternatives, there is no way out of this scheme other than homelessness! This is unregulated and as such there is no protection against the advice!
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