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What are the different types of equity release scheme?

April 26, 2017different equity release Scheme types

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What are the different types of equity release scheme?

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There are two main forms of equity release scheme – lifetime mortgages and home reversions. The most important difference between the two is that with a lifetime mortgage you still own your own home and with a reversion mortgage you sell a percentage share of your home to a reversion company in return for a lump sum or a lifetime income. ALBA Money does not currently offer home reversions.