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Discounts on properties for over 60’s
Comments
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maisie_cat said:The over 60s scheme is a lease scheme, a bit like renting for life with the rental up front.
The elderly "homeowners" do not actually own the home, the investors do.
There are not mortgage products available and the investors business case is predicated on the shorter expected lifespan of the tenants.
(My username is not related to my real name)1 -
Keep_pedalling said:..
My advice to anyone in such circumstances wanting £££ would be to get loans / deals elsewhere: Cheaper, more honourable.
The only good news was there were no offspring who hopes would be dashed. But the charity donations he fondly hoped would happen will be way, way, way lower in value that he fondly believed.1 -
theartfullodger said:Keep_pedalling said:..
My advice to anyone in such circumstances wanting £££ would be to get loans / deals elsewhere: Cheaper, more honourable.
The only good news was there were no offspring who hopes would be dashed. But the charity donations he fondly hoped would happen will be way, way, way lower in value that he fondly believed.
When I last looked at lifetime lease schemes, professionally, the effective interest rate was 4-5%.No reliance should be placed on the above! Absolutely none, do you hear?0
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