Reversionary—back in vogue! Reversionary property is hitting the main stream lenders and institutions as the changes in the market places and social changes in the elderly are opening up this market even further.
Remember a long time ago when you first attended the initial three-day training programme, we spoke about "UPWARDS." Well for those of you who have forgotten, the R stood for Reversionary. This is a little-known strategy when individuals put up for sale their homes, or at least a percentage of their homes. They do this generally at an under market rate but also then maintain the stipulation of being able to remain in these homes until such time that they leave, but all for a nominal or peppercorn rent.
The situation within the UK has steadily seen the elderly living longer, but as with such great benefits as longer life, this has resulted in greater financial burdens both on the individuals and the pensions fronts. Many elderly therefore are looking at this strategy as a way to release their funds in order to continue living but also to fully enjoy the remainder of their lives. The main institutions introduced equity release for the over 65's, but a number of these have now begun to work in partnership with specialist reversionary companies.
The stigma too has changed over the years with these companies, and now more than ever the elderly are now looking to release their hard-earned funds and are happy to utilise such techniques. To understand more or find out how to access such opportunities, call the help line.
To find out more, contact the office on 0208 996 6700 or visit our web site at www.russwhitney.co.uk and register your interest. |
