All posts by Tommy Lock

Equity Release

Does the Saga Equity Release Calculator Show Impartiality?

Plenty of websites offer calculators, information, and other tools to help consumers seeking equity release products. Yet, these websites work in different ways. For example Saga does not provide equity release schemes. They utilise Just Retirement for equity release products. Saga has built their business on offering annuity products Just Retirement actually creates. To understand the impartiality of the Saga equity release calculator you first have to understand more about the company.

Saga and Just Retirement Partnership
The Financial Service Authority (FSA) recently became the Financial Conduct Authority (FCA) and with this a new overhaul of annuities has occurred. Saga has a strong business partnership with Just Retirement on the basis of helping the company sell their annuity based equity release schemes to retirees 55 years or older. Saga may have to re-evaluate their partnership due to government changes or wait to see if Just Retirement will make changes to remain in the equity release industry.

Saga is going to be directly affected if sales of annuity based products begin to fall, after all they are selling these products as an intermediary between consumers and Just Retirement. Saga, for their ability to generate business on their site and help Just Retirement is paid fees. These fees are paid by Just Retirement, so the relationship is not truly an independent one, but more of a symbiotic relationship.

Saga also has information regarding interest rates as they apply to more than Just Retirement products. For example the Aviva Flexible Lifetime Mortgage plan is examined by Saga. The plan Saga offers is not considered as competitive as Aviva interest rates, which are found on sites like Equity Release Supermarket and other top equity release intermediaries. Basically Aviva information might be on Saga’s site, but just as a comparison.

Other Details to Know about the Situation
Saga’s partnership with Just Retirement Solutions operates within a tied panel basis. It is independent as other brokers. There is even the option of going off panel when necessary; however, this is not always offered right away. In fact consumers have to understand how the company works before they can request independent information.

How it Ties in
With the Saga equity release calculator values are going to assess Just Retirement plans. The information on the site is going to be about the annuity plans Just Retirement has. Yet, when you consider the differences of another company and what the Aviva equity release calculator may show, you will see different results. Aviva currently offers an APR as low as 5.63%, while Saga equity release schemes are over 6%.

One of the things Saga does to get your interest is to lower costs initially such as the upfront fees to obtain the loan. Remember you are obtaining a lifetime mortgage with an annuity from Just Retirement. There is a potential to save £500 in upfront costs, but this big savings is not always going to translate throughout the rest of the lifetime mortgage.

APR is an interest rate that will add up over the years. It compounds onto the loan and principle balance. Even if you have an annuity that is working to save up money for the eventual repayment is the higher interest rate on the product itself really going to help you save enough?

The answer is not always. Going with a big savings in the beginning or having an annuity structure is not always better than the low interest rate particularly if the rate is fixed at the lower rate.

Using Tools to Discern the Truth
You should not ignore the information you can find with both the Aviva and Saga calculators. Instead, use both tools to get results. By examining the different companies and their products it is possible to make a sound decision. Of course, you want to have more information than just the calculator to base your decision on. The calculator has to be used as an estimator of potentials. It is a guide that provides you information about specific products or if you find an impartial one, a calculator that provides information on several types of equity release.

Due diligence and speaking with an independent broker with no ties to any company is going to help you find the one product that is best suited for you. As you consider using the Saga equity release calculator keep in mind the above information, gain your calculations to use as a guide, and remember to speak with an expert then make a decision.

Equity Release

Household Finances Could Fall to 2005 Levels

If you were wondering what the true impact is of the current economic crisis and austerity measures, we now have a much clearer picture on how the finances of many families are suffering in real terms. It has been revealed that family finances are likely to equate to the levels we had as far back as 2005 – that is a fall back to levels 9 years ago. The recession is over, but there are still struggles as the economy slowly gains momentum. For retirees it is time to think about equity release and if it makes sense to take out this product to help stimulate the economy and live an easier retirement.

Salaries and Cash Flow
The reasons behind this are mainly due to the fact that salaries are either rising at pathetic rates, or for the most part, are actually continuing to fall when more and more companies are struggling to keep their heads above water during these hard times. You also need to bear in mind that taxes and cut-backs are paying a weighty toll on family incomes.

Cash flow is still not as stimulating to the economy as it was prior to the two recessions. In fact there is a larger emphasis on saving money right now. It is the first time in more than a dozen years that saving money has been important. When you consider the troubles the economy is facing right now and consider your retirement you may be worried.

If you are on the eve of retirement age such as 65, still have a mortgage, and worry your pension is not going to cover expenses consider your options.

Retirement Funding Choices
As a person heading in to retirement, you could hold out a few more years to try and save a little more towards your pension. Many also consider retiring, but hiring on in a part time position. Part time jobs are difficult right now though so you might not be able to find something you could enjoy as a partial retirement.

Another choice is to sell what you own by downsizing into another home, fewer cars, and other things you have. You could start to live a moderate life with few entertainment options. You may not be able to take those holidays you waited for given your pension and retirement funds, but you could live comfortably.

Your other option and one that continues to gain notice is releasing funds from your home to live on. With this in mind, it is no wonder that people are looking to measures such as equity release plans to tide them over. We all hope for better years in the future and the mentality seems to be that we need to do all that we can to protect our way-of-life and ensure that our family does not suffer too much. These plans release cash from your home turning your cash poor situation into one that is comfortable. Of course you need to be property rich in terms of having enough equity to make this concept plausible.

Home reversion and lifetime mortgage choices help you gain equity from your home to live on comfortably. You can still downsize and maintain a modest life, but you also have rainy day or holiday funds. With plenty of benefits such as tax free cash, using it as you want, and helping family it can be the perfect solution.

There are disadvantages to these plans, of course, but you can also benefit. It is a choice of what is right for you and how you want your retirement to be like when the job situation is not looking so great. The whole point is that you might be able to hold on and not retire versus not using equity. If the economy and employers won’t sustain this option then you have to look for alternatives.

The Shocking News and your way around it
This shocking statistic is definite evidence of the fact that the austerity measures implemented by the Government are hitting every household much harder than was originally forecast. Many people were opposed to such a stringent programme being introduced to take care of the debt the country is in; they favoured a longer-term and far less painful plan.

This is all a catch 22 situation at the moment. Many people are so grateful to still have their role of employment at the moment that they would not dare to rock the boat, so to speak. It would appear that employers are fully switched into this mentality and for the most part, are taking full advantage of this. So you could take advantage of equity release and retire on time.

Equity Release

Can London Commuters Influence the Maximum Equity Release?

London commuters have their pulse on the city in more ways than one. Finding great schools, having conveniences one desires, and simple transport needs have all influenced how London moves the rest of the country forward. Add in the property prices which have started to increase significantly in the last years and commuters are starting to increase UK housing prices. It takes a little longer for country areas to see the effect, but it is happening. Some generations are working at home for two days and then going into London the rest of the time. For retirees or those over 55, something else entirely different is going on which starts with the use of London online equity release calculator.

The Over 55s are Pushing for Growth
Buying a second property in the country is just one thing that Londoners over the age of 55 are doing. They want to have a rural home for relaxation, but still have their finger on the pulse of London. London commuters getting closer to retirement are also looking at the possibility of having enough money to spend in retirement and whether they need to move house using such London equity release schemes. As housing prices in London spike, many retirees looking to rest in the less busy sections of Greater London know that now is the time to sell. In selling, they can gain equity from their home and buy something a little quieter yet still next to the city they love. Once that money is used, an option is to release equity from their home.

Several reasons can be used for why growth of the housing market is being pushed not only in London, but outside of it. One main factor with regard to commuters is that they are hoping to increase their equity release as a means of taking advantage of better London real estate, which helps push the growth of the maximum equity release.

On the flip side when housing prices increase in areas like London and Greater London there is a potential to tap into more equity in the existing home. Rather than moving house this is the main focus. Commuters wish to have more income for when they go into the city. In order to gain this income they turn to equity release schemes. As bringing wealth into the economy is mainly through equity releases right now this pushes for the growth of housing values. As housing market values increase the maximum equity release amount increases as well.

Calculating the Potential
With a website specifically tailored towards London themes and aided and abetted by an equity release calculator, it is possible for anyone over 55 to start calculating their chances of increasing their maximum equity release. The online calculator is going to take the value of your home, your potential life expectancy based on current age and health, and determine the maximum lump sum you can take out in a lifetime mortgage.

Only a certain percentage of equity can be released from a property with these products. There is no repayment of capital sum during the lifetime of the owner. Instead, it is the beneficiary that will have to make arrangements for the repayment. This is because no monthly payment is needed. Of course, if the homeowner moves out of the home then the loan has to be repaid then. But on the assumption a London homeowner decides to pass away at home, the compounded fixed interest rate adds onto the capital sum borrowed. This can never be greater than the housing market value.

As the London housing market is increasing in value right now, it means there is a potential to tap into more equity from the home. With Londoners calculating potential lump sums it helps push the value even higher in several London areas, thus helping the entire UK.

How are Homeowners Using this Money?
Already it has been discussed that other properties might be purchased which helps the growth of the property market. It is not the only reason, though. For some Londoners, getting more equity released from their home is about obtaining a lump sum they can gift to their children. This gift is then used for a down payment on a property perhaps outside or near London. Again over 55s are helping the housing market improve even indirectly by taking out an equity release mortgage and allowing their children to use the proceeds from it.

Whether you decide to use your equity release for this matter or you hope to increase the equity release maximum, take advantage of the information you can learn via the www.EnhancedLifetimeMortgage.co.uk website.

Equity Release

The Most Popular Lifetime Mortgage Scheme

Features of lifetime mortgages have evolved over the recent past and a lot of changes have taken place. Equity release schemes provide a number of benefits that enable you to take advantage of your home value. An example is the ability to repay the mortgage without fear of penalty payments. Another is the option of saving a portion of your home without selling it or using the equity in it to provide an inheritance. Other schemes like the drawdown lifetime mortgage offer you away to take out only the money you need and the ability to take more later should your needs increase.

The drawdown lifetime mortgage is the most popular type of equity release scheme in 2012. This is due to the flexibility of the schemes as funds can be taken on a drip basis from an overall reserve facility. What normally happens is that interest is calculated on the basis of the initial amount borrowed and it compounds as time goes by. Therefore, if a huge lump sum is taken from the beginning, interest charges will be high and will remain on the upward scale.

The drawdown plan has a host of benefits in lifetime mortgage but the most significant one is that they provide a pre-contract agreement whereby a limit is put on charges according to the value of your property. In most equity release plans the lender comes up with the amount to be deducted from the start, and normally it is somewhere around £10,000 and £25,000. The drawdown balance is available for the duration of the term, but terms are subject to change if the market changes.

Today there are so many lenders in different forms who have come up with customised terms in order to lure clients. The borrower of the mortgage must be clear with the terms beforehand because if there is one tricky field in financing, it has to be mortgage and loans. People often get themselves in situations they can barely get out of, which can give you a lot of headaches.

When you have a lot of information it can be best to look at a list of advantages and disadvantages. You also have to realise that drawdown lifetime mortgage plans can vary from provider to provider thus this generalised information can improve upon speaking with an agent or turn you off the idea altogether. It depends on who you speak with and how many agents you speak with. Always get three opinions when it comes to your financial planning regarding your retirement and lifetime mortgages.

Advantages of Drawdown Mortgages
1. You can be 55 and apply for this mortgage.
2. You can decide how much you withdraw on a monthly, quarterly, or annual basis. Typically the provider will require an initial lump sum at a certain amount, then you can take as much or as little as you want from the account. Obviously you cannot take more than the account has available.
3. Every 3 to 5 years you may need to reassess your drawdown mortgage to see if you should increase the amount of equity you use. This is an option with most providers.
4. The cash you receive is tax free.
5. You can use the cash as you wish for expenses, house repairs, emergencies, holidays or other special things you wish in your retirement.
6. You do not pay interest or any principle balance until the end of your life or you move to a care facility.
7. You only pay interest on the amount of money you withdrew from the account, not the funds available to you in the account.

Disadvantages of Drawdown
1. Drawdown lifetime mortgage is a mortgage.
2. You will owe money at the end of the mortgage including any interest that has accrued.
3. Most providers require the house to be sold within 12 months for their repayment or immediate repayment if your beneficiaries do not wish to sell the home.
4. It can be difficult to leave an inheritance behind if the housing value drops into negative equity.
One important clause to write in your contract is a negative equity clause. The clause should state you or your beneficiaries are not liable if your home is in negative equity at the time of your death or removal to a care facility.

To be safe with your lifetime mortgage plan, shop around for the most suitable choice. You can gather information from the internet or try to seek professional advice from a mortgage expert. This will save you a lot of headaches after your retirement.

Equity Release

Understanding the Drawdown Lifetime Mortgage

Taking equity from one’s property has been slowly gaining a lot of popularity over the years as the recession has hit most households. This is since a release of equity offers a chance for a person to get cash from the bricks and mortar within their property. In addition, the interest rates that one pays on the capital sum borrowed are usually reasonable compared to those of conventional mortgage rates. There are a number of schemes available when it comes to equity release like drawdown lifetime mortgage. Lenders will always insist on people obtaining equity release advice before letting them decide on the scheme they want.

However, today there has been a surge of interest in one of the more flexible equity release schemes known as the drawdown lifetime mortgage plan. This is an option that is popular in the field of lifetime mortgages and it has features that other plans do not offer. For instance with a drawdown lifetime mortgage it is possible for you to withdraw a bulk amount which can be lower than the maximum available. This still leaves a surplus of tax free cash held by the lender. This is the cash reserve facility that one can draw upon whenever further funds are required.

This is a feature that other plans do not have, and that is why there has been a growing interest in the Drawdown Lifetime Mortgage. In fact, at the moment this facility offers the best retirement solutions for many people looking to take equity from their property. So, it would be advisable to research and consider the option of the drawdown scheme.

Other features that make this financial product really popular is that it is flexible as you are usually charged lower interest rates, for instance Aviva currently offers their flexi lifetime mortgage at just 5.92% with companies such as Equity Release Supermarket. Therefore, there are many features that have propelled this plan to be one of the most popular by home owners looking for equity releases. Another benefit of the drawdown lifetime mortgage is you are only charged interest on what has actually been withdrawn.

Quick View of Drawdown Benefits
1. Interest rates are usually lower than standard mortgages.
2. You are only charged interest on the sum you withdraw from your credit account versus the amount available to you.
3. You can take out this mortgage at age 55 or up.
4. You can take a lump sum and then smaller payments or take small payments as you need them.

You have other lifetime mortgage options such as enhanced lifetime mortgage. Enhanced mortgages are for individuals that suffer from health issues that may reduce their life expectancy. Like the drawdown option this enhanced version does not work for every home owner. It is meant to give a large lump sum for the person’s expected lifetime versus the possibility of more years and retirement needs.

There is also the standard option which is a lump sum payment or instalment choice after you receive a lump sum. In this standard lifetime mortgage you do not pay interest until the end, but you do accrue interest on the lump sum you have taken or the instalments you intend on taking.

The last option is an interest-only lifetime mortgage, which allows you to make monthly payments of interest leaving only the principle balance in the end. For those with reserve income it might be the best option to ensuring an inheritance is left for your family members.

Family should be a part of your decision making process on any lifetime mortgage including drawdown lifetime mortgage plans. Your family or beneficiaries will be left to deal with your debts when you die and may be needed when someone goes into a retirement facility. Leaving a burden of debts that requires the family home to be sold may not be what your family desires.

Before entering into any contract understand the disadvantages of these schemes too. This helps you and your family make a decision, as well as, helps you understand the financial advice you received from an agent.

Drawdown Lifetime Mortgage is popular and for good reason. However, if you are looking for the best plan, it is best to get the advice of an equity release adviser so that you may know the best choice to make. Taking equity on your home is a big deal, and it is best that you take your time and do the right equity release.

Equity Release

Beat the Taxman Today

Lifetime mortgages can help many people and one of the many ways that they are beneficial is how they give you a lump sum of cash. If you are over the age of 55, lifetime mortgages are potentially available for you. There are several types of lifetime mortgages such as interest only, drawdown lifetime mortgage and the general lump sum schemes. Lifetime mortgages provide you tax free cash, which helps you get the money you need without paying extra to the taxman.

Drawdown lifetime mortgage schemes are a good option for people who want to release cash from their home, especially if nearing the end of their existing mortgage agreement. It is essentially a drip fed mortgage which means that you do not have to take all of the cash offered to you at the beginning. Instead, you can take a small amount initially and then withdraw the remaining reserve facility as and when you require it.

It is important to seek independent equity release advice about drawdown mortgages to see if they are right for you. For example, unexpected emergencies could change your needs and you might find that a drawdown mortgage could work because you can use from the pool of cash that you got for the first instalment.

Another popular type of mortgage that helps people beat the taxman is the lump sum mortgages. These are fantastic, especially if you want to do any extra DIY or renovations on your home. The lump sum mortgage that you can apply for gives you the scope to get your hands on the cash you need to do so. Projects can vary far and wide from simple kitchen improvements to full blown extensions and conservatories, in many cases changing people’s lives.

One important aspect to remember about lifetime mortgages is the fact that they are not on a fixed term. Interest is added onto your loan monthly or annually and this is something you need to be aware about. This is especially important if you are taking out a mortgage as a couple, because you both need to know the ins and outs of the finances required for a lifetime mortgage if either of you dies or needs to move to a long term care facility.

Top tip: Look into your lifetime mortgage contract to check if there is any negative equity built into your contract. It is important to know that you have the right to be protected against negative equity if your lifetime mortgage loan is bigger than the actual value of your property. This is to ensure consumers are protected at all times when taking on a financial risk such as a mortgage. Any company who is a member of SHIP (Safe Home Income Plans) must have this included.

Drawdown Mortgage Benefits
A lifetime mortgages have benefits; however, there are some special aspects of a drawdown lifetime mortgage that might better fit your lifestyle.

1. Interest accrues only on the amount you have withdrawn from your lifetime mortgage account. You may have £100,000 in equity in your account; however, if you only take out £10,000 during your lifetime then you pay interest that accrues on the smaller amount. Regular lifetime mortgages are not the same.
2. You can take an initial lump sum in a drawdown mortgage and then take monthly, quarterly, or other withdrawals.
3. The cash you withdraw is tax-free.
4. You can use this method to provide monthly income to cover expenses while you are alive, go on holiday, or improve your home.
5. You have an option of restructuring your drawdown lifetime mortgage after 5 years if your housing value has changed or you wish to increase the amount available in your account.
6. There is a negative equity clause with SHIP lenders ensuring your safety. You will not owe anything if your home is sold and it does not cover the entire lifetime mortgage and interest accrued.

When shopping for lifetime mortgages and gaining money that is tax-free, remember that each lifetime mortgage plan will have benefits. Even the regular lifetime mortgage is tax-free and can include the negative equity clause. Always speak with an advisor and your family before you consider taking out one of these mortgages. There are some disadvantages regarding inheritance.

Your home may need to be sold to pay for the mortgage, which does not leave it for your family. If you have a lower value in your home than the mortgage amount owed, your family will receive nothing. This is why the drawdown lifetime mortgage can be beneficial as you have a potential option of leaving an inheritance.

Equity Release

Where to Find an Accurate UK Equity Release Calculator

The development and expansion of the internet has made it far easier to access financial products and services. Consumers of today can easily type a question into a search engine and receive pages and pages of information, with sources readily available to access instantly. When considering financing or re-financing, there are quite literally hundreds of sites to source the information that you need to answer your question. This is especially the case in the equity release marketplace. With the plethora of different equity release calculator, UK residents can explore all the options available to them. There are even equity release supermarket calculators which allow comparisons between different products and services.

Using an Equity Release Calculator

When using an equity release calculator, UK residents can quickly determine their eligibility for equity release and the amount of release possible. These online tools can deliver instant results which are accurate enough to be relied upon when moving forward. By supplying a few basic details such as your age, gender, totals of any mortgages or secured finance currently in place and the value of your home, the calculator will assess your eligibility against the set criteria and determine the amount of release possible.

Some of the more sophisticated tools such as the equity release supermarket calculators will also ask questions about the state of your health. This is because they have access to enhanced plans and schemes which offer additional release sums based on the impaired lifespan of the applicant due to poor health history, terminal condition or even habits such as smoking.

With a number of forms of equity release calculator, UK residents can also explore a number of different equity release options. Some calculators can only supply details based on a specific range of products. However, in depth models such as the Equity Release Supermarket Calculators will provide details on alternative schemes such as drawdown lifetime mortgages. A draw down lifetime mortgage allows the home owner to receive a smaller initial lump sum but have a draw down facility available to them. This allows for funds to be called down as and when they are needed. The main benefit to this type of scheme is that you would only begin to pay interest on funds when they are drawn down. This can save a great deal in interest charges in the long term and prevent you from losing your eligibility of means tested state assistance and benefits.

Tips for Finding an Accurate UK Equity Release Calculator

Finding an accurate equity release calculator UK, need not be stressful or difficult. There are a great number of accurate online equity release calculators. However, there are a number of tips to ensure that you find the best possible tools.

• Look for independence: Independent brokers have calculators which are linked to a great number of products in the equity release marketplace. For example, the Equity Release Supermarket calculators are not tied to a specific company or provider. They offer wider access to a larger range of schemes and plans including enhanced schemes and other types of lifetime mortgage. Calculators on company websites are limited by the product range offered by the specific company, which may not represent the best possible choice for you.
• Use more than one different calculator: With an equity release calculator, UK residents are not committed. They can use more than one different calculator and in fact are advised to do so. In order to be assured that you have gained an accurate insight into the marketplace, you should use several different calculators and compare the results.
• Be wary of providing personal contact information: Most calculators will allow people to use them anonymously without providing any contact information. Some may ask if you would like an adviser to contact you, but you should be wary of any calculator which will not permit you to use it unless you provide contact details. In a best case scenario you are likely to be badgered by sales calls or spam e-mails, but in a worst case scenario, you may make yourself vulnerable to internet fraud or cyber crime.

With an equity release calculator, UK residents can have a greater degree of control over their research of equity release schemes and solutions. The popularity of these tools has encouraged brokers and companies to develop more sophisticated tools such as the Equity Release Supermarket calculators. This ensures that people have a greater access to information which will allow them to make informed choices and decisions about their financial future and whether equity release is best suited to their needs.

Equity Release, Home Reversion

Should I Choose a Home Reversion Plan just because of the Home Reversion Providers?

A home reversion plan is where you sell part or the whole 100% of your property to home reversion providers. In return you receive a tax free lump sum or a monthly income, whilst you are able to stay in your home rent free. Home reversion plans are offered to those who are 65 and over. The home reversion provider recoups their money when the property is sold. This only happens once you have died or move into a long term care centre.

Some examples of home reversion providers are Bridgewater, Newlife Mortgages and Hodge. As these types of companies are in competition they usually offer competitive rates or perks for choosing their products. A customer usually finds that they have loyalty to certain companies as they believe that they are the best provider due to commercials.

This actually might not be true. The plans that providers supply can differ so a customer should actually find the plan that suits their needs. Just because they think a company is the best provider does not mean they will be getting what they need from an Equity Release scheme.

Some companies will require you to sell a certain percentage of your property, others offer better rates based on the property value, and some will only give you a lump sum if you sell all of the property. There are lots of different plans and all have a set of terms that must be followed.

Instead of just picking the provider that you think is best, shop around. You can get quotes from different home reversion companies online with no obligation to proceed with them. This means you are then able to compare the plans of each company and what they are offering. You can also get in touch with a sound independent financial adviser. They will do the research based on your needs finding the provider with the best plan that suits you.

Your home reversion plan is not based on the provider and the provider can actually become irrelevant when choosing a plan. Your home reversion scheme is then based on the plan itself, not from where you obtain it. This is because it has to be suited to you and your needs. As a customer that is what comes first rather than obligation to any of the home reversion providers available to you.

Before you start your search for a provider, it can benefit you to understand some of the main benefits of home reversion versus lifetime mortgages. You have both options available to you. Looking at only one choice in your retired life can be limiting. You may learn after the choice in home reversion plan is made that there was something entirely different and better, unless you continue reading.

Lifetime mortgages are loans where you do not make a monthly payment, but instead obtain a lump sum of money or monthly instalments to help you pay your expenses. You do not sell your home. The main difference is that you have an outstanding debt on the property that has to be paid by your beneficiaries. In most cases this means the home is sold because your beneficiary is unable to pay the loan off after you die or move into a long term care centre.

It is the main difference of selling your property or having a loan on it that usually decides a person’s mind regarding home reversion versus lifetime mortgages. Yet, there are other considerations like your age and life expectancy. A younger person, age 55 and older, can obtain a lifetime mortgage. However, life expectancy is usually more, which can cause a lower lump sum or monthly payment to be paid out.

You do have choices with lifetime mortgages in whether you draw a monthly payment or get a lump sum. You also have the option of obtaining a mortgage based on your health, where an illness can pay out more and in a lump sum due to a lower life expectancy.

As you search around for home reversion providers remember the differences discussed above in order to determine which type of plan would be the best. If you do not like leaving debt behind for your family, the clear choice is home reversion. You also guarantee a small inheritance based on the amount of property you did not sell, which often satisfies the worry of your family or beneficiaries being left without anything. Agents registered with SHIP from the above named companies are the best to seek out if you have questions.