How is the Open Options Property Plan from Retirement Plus different?
The Open Options Property Plan is a type of home reversion plan but it has some important differences from the standard home reversion plans. • You do not surrender ownership of your property – instead Retirement Plus owns the property jointly with you • Like other home reversion plans you sell a share of the ownership of your property but, unlike other home reversion plans, you do not receive less money than the value of the share you give up at the start of the plan. The Retirement Plus share increases to an agreed maximum over a long period of time rather than at the start. This can benefit your estate should you die earlier than expected • When you die, Retirement Plus receives the sale proceeds for the share they have a right to at that time. You can cancel at any time by paying the market value of the Retirement Plus share, current at the time you repay For your security and peace of mind, the Open Options Property Plan is only available to those who have taken advice from an equ
