📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Home For Life plan

ravravrav
ravravrav Posts: 110 Forumite
Part of the Furniture 10 Posts Name Dropper Combo Breaker
in Mortgages & endowments
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?

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    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.
  • doverrog
    doverrog Posts: 16 Forumite
    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
    Wh05apk Posts: 2,938 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    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
    Fightingfortruth Posts: 1 Newbie
    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!
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.3K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.8K Spending & Discounts
  • 244.3K Work, Benefits & Business
  • 599.5K Mortgages, Homes & Bills
  • 177.1K Life & Family
  • 257.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture