Case study – Home reversion plans
Gail Shaw, 77, had previously looked into home reversion plans but was unsure about taking one out.
Last year she contacted a financial adviser who recommended a home reversion providers.
As with all equity release products, Patricia was advised to talk to her family and discuss the home reversion plan and what it would mean.
Patricia completed her flexible release home reversion plan late last year and paid off her mortgage, credit cards and a bank loan.
She was also able to book a holiday and has invested some of the funds she released and receives interest on this money.
Patricia said: “Having discussed my plans with my family I now have peace of mind and would recommend this type of plan to others.”