Equity Release Plans Compared

If you aren't sure which type of plan is best suited to you, please compare the two below as they both have different requirements, and features.

We are also delighted to offer our Denplan Essentials Dental Plan and Denplan Membership Plan; these are affordable monthly payment plans which contribute to your overall dental care. Please call if you require further information.

	Lifetime Mortgage	Home Reversion Plan
Is there a minimum age?	YES, you must be at least 55 and if a couple the youngest must be at least 55 too	YES, this is for individuals or couples where the youngest is aged between 65 and 80
Is there a minimum house value?	YES, depending on the provider this can range from £70,000 to £125,000	YES, depending on the provider this can range from £70,000 to £125,000
Is this plan a loan?	YES, you borrow the money and the loan and interest is secured against your property	NO, your home is fully or partly sold to a reversion company
Can I release all the equity in my home?	NO, the amount depends on your age and other circumstances	YES, you can choose whether you sell all of your property, however it will be below market value as you are still able to remain in your home
Will I have to make monthly repayments?	NO, repayments are not required and the interest is continually added to the loan, which increases the amount you owe over time	NO, you live in your home rent-free
Do I keep ownership of my home?	YES, you still own the property	NO, the property will be transferred to the reversion provider
Can I live in my home for as long as I want?	YES, until you die or move into long-term care. If a couple have taken the Lifetime Mortgage then it is on the second death or move into long term care.	YES, until you die or move into long-term care. If a couple have entered into the reversion agreement, then it is on the second death or move into long term care.
Can I move home in the future?	YES, in many cases, so long as the new property meets the provider's criteria.	YES, in many cases, so long as the new property meets the provider's criteria.
Do I pay tax on the cash received?	NO, but Equity Release can affect your entitlement to means tested state benefits.	NO, but Equity Release can affect your entitlement to means tested state benefits.
Can I still leave an inheritance?	YES, if there is equity remaining in the property, but this depends on the value at the time of sale.	YES, so long as you retained a stake in your property and did not sell all of your home.