Other Services You May be offered: Equity Drawdown (not offered by Ark Homes) You will be able to draw down money from the equity of the property but will not pay interest on the amount except the value of the sum provided will rise with the value of the property. Home Reversion Plan (Not offered by Ark Homes) Instead of a loan secured on your home, with this type of plan you actually sell part, or all, of your home to the home reversion provider. In return you are paid a lump sum or receive income at the start of the plan which allows you to continue to live in the property with either no or minimal rent. However because the money is provided upfront (and you continue to benefit from living in your home) you will get less than the full market valuation for the percentage of the property sold. When you end the plan, die or if you need to move into long-term care, the reversion provider will sell the property, take their share of the money and pay the balance, if any, to you or your estate. House Exchange Scheme Downsizing - When you get to retirement age not all people want to go through the hassle of selling their home through an agent and have lots of people coming round seeing what you have in your house. So the alternative is to opt for an appropriate exchange scheme. There are various types available to you but essentially you can downsize your property by part exchanging the current house you have with one of those that we currently have in our portfolio (and you may still get a handsome cashback deal during the exchange process). Share Buy-out Do you own a part share in a house or land? If so then we may be interested in buying your proportion of that particular equity segment. Important Information Our belief is that Rent Back (or either of the first two shown above - only for illustration purposes) are not viable options for most people (either for you or the company providing it) so we do not offer them as one of our services. We feel that you should have a clean break and put the past exactly where it belongs! Apart from the main types described above, there are other schemes available which may suit you better. You can view more about these on the Independent Financial Adviser website. If you wish to see further useful Information and links then click here If you have land for sale then click here © Copyright 2007 Ark Homes, All rights reserved. |