Homewise.

Maryas

We are looking to slightly down size and move to be near the sea. We think we would have around £240k to spend and are mortgage free. We have come across this scheme, "Homewise." which helps you get "more house for your cash" and is only for over 60's Seems as though the pay back is very high Has anyone any experience of this scheme, and is it worth at least having a meeting with them?
MAny thanks

Shakin_Steve

I have absolutely no experience of this, or similar, companies, but please be careful. I do hope there is someone on here who can advise you. You may be better posting on the 'House buying, letting and selling' board.

fwor

There was a thread on this here a few years ago (there are probably others but it was the first one that Google found):

https://forums.moneysavingexpert.com/discussion/4323509

Apparently Homewise had a charge of misleading advertising upheld against them by the ASA in 2015.

As others have said, it looks like an expensive way to rent, with no easy way out if the property you buy ceases to suit your needs, but it is no doubt very much dependent on an individual's circumstances.