Home reversion
Access the value of your cherished home without having to leave
At Burlington Financial, with offices in Bridlington, East Yorkshire, and Scarborough, North Yorkshire, we believe that financial planning goes beyond mere numbers; it’s about you.
That’s why we proudly adopt a holistic approach, offering independent financial advice and ensuring that every facet of your financial life is taken into account.
What does this mean for you? It means we look beyond spreadsheets and calculations. We take the time to understand your unique circumstances, personal goals, and current financial situation. This allows us to create tailored strategies designed to address what truly matters to you. Our commitment is to provide solutions that make a meaningful difference in your life, both now and in the future.
Tailored advice for lifelong peace of mind
Financial planning isn’t just about the here and now; it’s about achieving long-term stability and peace of mind. That’s why putting together a tailored plan requires us to view the bigger picture. When you partner with us, we listen carefully, understanding your needs, hopes, and ambitions. This allows us to offer bespoke advice that addresses financial planning at every stage of life.
Whether you’re navigating complex investments or exploring equity release options such as home reversion, we ensure every decision is made with your best interests at heart. Equity release can seem like a minefield, which makes expert advice essential.
What is Home Reversion?
For some people, unlocking the value tied up in their property can provide a practical financial solution for meeting future needs. A home reversion scheme is one way to access this value without needing to leave the home you cherish. How does it work? You sell part or all of your home to a provider, but retain the legal right to live there until you either pass away or move into long-term care. This arrangement ensures you have the security of staying in your home for as long as needed.
The flexibility of a home reversion scheme means you can choose how you wish to receive the funds. Would a single lump sum work best for your plans? Or perhaps a regular income, or a combination of the two, would better suit your ongoing needs? You have the freedom to determine what arrangement works for your specific situation.
Weigh up whether a Home Reversion Plan aligns with your financial goals
It’s important to recognise that the amount you receive for your property under a home reversion scheme will generally be less than its full market value. Typically, this falls between 20% and 60% of your home’s worth. Why is this reduced? The provider allows you to stay in your property rent-free or at a significantly reduced rent, often for many years. This is why factors such as your age, health, and how long the provider expects you to remain in the property play a key role in determining the eventual valuation.
By understanding these details, you can better weigh up whether a home reversion plan aligns with your financial goals. Could this be the right option for you? Or might alternative paths be worth exploring? At Burlington Financial, we’re here to ensure you have all the guidance you need to make a fully informed decision.
Would a Home Reversion Plan suit your financial needs?
At Burlington Financial, we’re here to provide expert, tailored advice that puts your priorities first.
Contact our trusted team today to explore your options, discuss alternatives, and receive personalised guidance and independent financial advice every step of the way. Make the informed choice with Burlington Financial.
