Homewise FAQs

Moving home is a big decision and it’s perfectly normal to have questions about Homewise and choosing a lifetime lease for your retirement. You may be thinking “what happens if…” and we’re here to help answer these questions.

What happens if...

I am moving with someone who isn't 60?

The Home for Life Plan is only available to people aged over 60 years old. If you're moving with someone who is under 60 they wouldn’t be able to benefit from the plan unfortunately. We’d recommend waiting until both parties are over 60 - this means you’d both be legally protected and both have the right to live in the property for the rest of your lives, rent and mortgage free.

I want to decorate my new home?

Feel free! It’s your home to decorate as you want. Wallpaper, paint, new carpet. Just before you undertake any major renovations, you will need to get permission. If you’re unsure or have questions, just give us a call.

I want to move home and I have a Home for Life Plan?

The Home for Life Plan is completely portable. Should you wish to move, your plan will move with you. You would need to cover all moving, sales and legal costs, and, as usual, we can help with every step of this process.

I would like to pass on an inheritance?

The Home for Life Plan is designed to be flexible enough to help you achieve your goals, and for many people guaranteeing an inheritance for their loved ones is a priority. With the Home for Life Plan, you can safeguard anywhere between 0 and 50% of the future value of your home.

I choose to move into full time care?

No one moves into full-time residential care without a great deal of thought and we understand that moving to a care home can offer security, peace of mind and companionship. If you do move into care, your Home for Life Plan will end. If you have safeguarded a percentage of the property’s value, this will be transferred to your account and will form part of your assets. Care costs, assessments and options vary wildly from area to area, so it’s always worth seeking advice from your local authority during this time.

I pass away?

Horrible topic we know, but it will, unfortunately, happen one day. If you’re the only person on the Home for Life Plan, the property will be sold, and the proceeds will go to Homewise or its investment partners. If you've safeguarded a percentage of the property's value, this will be transferred to your estate. If you have a partner on the plan, they will retain the right to live in the home until they pass away or move into care.

I’m dissatisfied with the level of service I’ve received?

While we hope this wouldn’t happen, we do have a fair and understanding complaints procedure in place to protect you. Our Code of Practice is set up to ensure honesty, clarity and professionalism throughout our business. If we fall short of that in any way, then please tell us. Should you need to raise a complaint, simply pop it in writing and send it across. You can find our contact details here. We’ll aim to acknowledge your complaint within three days.

Homewise go into administration?

Well, it’s not exactly something we’re expecting, but we have planned for it, just in case. Should everything go pear shaped and Homewise, for whatever reason, is no longer around, your Home for Life Lease is still protected. It is registered at the Land Registry and your safeguarded share is secured via the legally binding Declaration of Trust. It is not dependent on Homewise.

Have more questions? No problem, get in touch with our friendly Customer Service team and they’ll be happy to help.

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