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Reversion schemes are an alternative method of releasing equity from your property to help finance you in retirement.
With reversion schemes you sell a proportion of the value of your home in return for a cash lump sum or an income.
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The amount you receive will be less than the value of the proportion you have sold. So, for example, if your home is worth £200,000 and you sell a 50% share in it you will receive less than £100,000.
You can live in your home for the rest of your life, but you will no longer be the sole owner and some providers may insist that you pay rent. When you die and the property is sold the reversion company keeps its share of the proceeds.
Reversion schemes will be regulated by the Financial Services Authority (FSA) from April 2007.
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