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Home For Life plan

edited 30 November -1 at 12:00AM in Mortgages & Endowments
4 replies 167.3K views
ravravravravravrav
106 posts
Forumite
edited 30 November -1 at 12:00AM 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?

Replies

  • ThrugelmirThrugelmir
    67.7K posts
    Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    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.
    "The individual investor should act consistently as an investor and not as a speculator." - Benjamin Graham
  • 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?
  • 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.
  • 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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