smaller text
bigger textA Lifetime Lease explained
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Market value: £160,000
Lifetime Lease: £88,000
A Lifetime Lease is a practical alternative to home ownership for people who want to move into a home of their choice - and pay less. Homewise's unique Lifetime Lease is a concept that was pioneered by Reg Neal some 30 years ago. Since then, our company has helped thousands of people by providing an easy and affordable way to move home.
Using all or part of the money from the sale of your current home, or in some cases, savings, you purchase a Lifetime Lease on your new property at a substantial discount on the property value. This money can then be used to supplement your retirement income, pay-off debts or help younger members of your family.
Your Lifetime Lease guarantees you a lifetime's enjoyment of your new home. Under a Lifetime Lease there is no rent or interest to pay.
Because you enjoy a considerable discount on the value of your chosen property, you could move into a home that you may otherwise not be able to afford - and you have the security of being able to live there for the rest of your life.
If you choose to move at a later stage, you are free to do so. On your demise, the property remains with the company.
The discount we offer you is based on a sliding scale that relates to your age, gender and marital status. You can take out Lifetime Leases if you are a couple or on your own, living with a friend or another family member - just as long as you are both 60 or over. The Homewise Lifetime Lease comes with an optional Inheritance Protection Option, which means that you or your estate can receive a payment in the event of your early demise or if you move into long term care.
The Life-time Lease has met with the approval not only of leading legal organizations but also the Elderly Accommodation Counsel, which provides objective information to anyone looking to move. In the words of Ros Lucas, EAC's Director of Charity Services: "We welcome the development of a product such as the Lifetime Lease offered by Homewise as it increases the options available to older people when considering their future housing needs."
Inheritance Protection Option
The Homewise Lifetime Lease comes with an optional Inheritance Protection Option. Under this Option you or your estate can receive a payment in the event of your early demise or if you move into long term care. Please request your personal illustration for more information.
