There are a number of products on the market aimed at allowing
people over the age of 60 to obtain access to money by using the
real estate property that they own as a basis for obtaining those
funds. Most of the products on the market are what are known as
Reverse Mortgages. There is one product, that we are aware of,
however that is a bit different from most of the others, namely a
product called Homesafe Wealth Release.
Homesafe is not like a Reverse Mortgage.
Reverse Mortgages involve a loan to the customers which is
secured by a Mortgage over the property. The Homesafe product
involves the sale of an agreed share/percentage of the home to
Homesafe, however the customers always retain the registered
ownership of the property. The percentage of the property that is
sold to Homesafe is agreed at the outset of the transaction. This
means that one of the benefits is, say 30% of the home is the
relevant percentage then the customer knows that there will
