What exactly is a home reversion scheme?
A reversion company buys part or all of your home and you will normally be paid less than the full market value. You can get the money as a cash lump sum or income. The amount released will be less than the value of your property and you also usually get a lease giving you the right to carry on living in your home for the rest of your life. Always check the terms of the lease to make sure you understand them. The minimum age for these types of schemes is usually higher than for lifetime mortgages.
