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Home Reversion PlansĀ 

A home reversion plan entails selling all or part of your home, in return for a tax-free cash lump sum or regular income, and a lifetime lease.

This lease allows you to legally remain in your home until you die or go into long-term care.

When you die or move into long-term care your home is sold. The Home Reversion Plan provider then receives the full value of their share of the sale price. You (or your estate) receive the remainder. For example, if you sold 40% of your property to the Home Reversion Plan Provider on the sale of your property they would receive 40% of the sale proceeds, you/your estate would receive 60%.