Equity Release F.A.Q.
What will happen to my home after I die?
Under normal circumstances, where the whole property has not been sold to a plan provider the executioner of your estate will be responsible for the sale of your home, whether you chose a reversion scheme or a lifetime mortgage. However if you opted to sell 100% of your home to an investment company under a reversion scheme, then the investment company will be responsible for selling the property. It is often a good idea to clarify this situation in your will so that no confusion occurs.
Here are a list of the other frequently asked questions relating to equity release schemes.
- Will I be able to live in my home for the rest of my life?
- What costs are involved in setting up an Equity Release Scheme?
- How much money will I receive?
- Will I be able to move house in the future?
- What if I change my mind?
- Are Equity Release Schemes regulated?
- What happens if property prices change?
- Who pays for repairs to the house?
- What happens if somebody moves in with me after I take out an equity release scheme?
- What will happen to my home after I die?
- Does my home have to be sold within a set time period?
- What will happen if I need to raise further funds in future?