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site brought to you from Independent retirement specialists Advice on Money

Freephone 0800 970 4882

Advantages and Disadvantages of
Home Income Plans

The advantages and disadvantages of home income plans, this is a type of Lifetime Mortgage

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Home Income Plans - Advantages

Forced to buy an annuity, which is a safe way of providing an income.
You may be able to take some lump sum in addition to the annuity.
The older you are the higher the income.
As interest is repaid automatically the reduction in the homes value is minimised.

Home Income Plans - Disadvantages

You are committed to an annuity as a means of extra income, leaving you no choice of alternatives.
You do not have the option of allowing the interest to build up, so the reduced annuity may not improve your financial circumstances greatly.
Home Income Plans involve borrowing against your home and may work out more expensive in the long term than downsizing to a smaller property, and may affect your entitlement to State benefits and grants.

This is a lifetime mortgage. To understand the features and risks ask for a personalised illustration

Annuities

I.H.T Planning

Long Term
Care
Funding

Debt solutions

At Advice on Money we are always happy to give impartial financial and mortgage advice to help people make the right decision. This site gives details about Lifetime Mortgages and alternative equity release schemes. If you would like to contact us to discuss the suitability of a Lifetime Mortgage or indeed any other form of equity release then you can do so by calling 0800 970 4882 or emailing enquiries@adviceonmoney-ifa.co.uk

Advice on Money
8a Richfield Avenue
Reading
RG1 8EQ

Tel: 0118 958 6421

Fax: 0118 958 8431

e-mail:
enquiries@adviceonmoney-ifa.co.uk

Principal:
Keith Hargraves.

Advice on Money is an appointed representative of Sesame Ltd, which is authorised and regulated by the Financial Services Authority. Sesame is entered on the FSA register (www.fsa.gov.uk/register/) under reference 150427.

The information contained in this web site is for general information only and is not financial, investment or tax advice. It is also subject to the UK regulatory regime and is therefore restricted to consumers based in the UK. If you would like to discuss a particular issue or generally ask us how we can advise on your particular situation then please contact us.

For researching and arranging the best scheme for you, we will charge a fee on completion usually 1.5% of the amount released or facility arranged with a minimum of £795.

Advantages and Disadvantages of Home Income Plans

Advantages and Disadvantages of
Home Income Plans