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Home and Capital

This organisation was established over thirty years ago in 1978 and is a specialist equity release product provider. As a founding member of SHIP (Safe Home Income Plans) they are committed to good lending practices for customers who are over 55 and may have substantial equity available in their home that could be used to improve quality of life. In October 2006 Home and Capital became part of Sovereign Reversions Plc who are listed on the London Stock Exchange's AIM.

Home and Capital has won the Moneyfacts 2007 and 2008 'Best Home Reversion Provider Award'.

There are two types of equity release plans - Lifetime Mortgages (LTM) and Home Reversion Plans (HRP). They are suitable for customers who would like to raise tax free cash sums that can be paid out as a lump sum or used to provide a regular income during retirement. You can use the money for any purpose including gifting it to children or grandchildren, holiday homes or to pay for a special event.

 

Home and Capital Mortgage Products

Lifetime mortgages: With this product you are able to borrow without having to make any repayments until the property is sold, this may be when you move or upon your death, interest is rolled up and will be taken from the estate before any remaining amount is given to you or becomes part of your inheritance. There are a number of considerations you should discuss with your family and mortgage advisor, if you live longer than expected then the interest will continue to accrue and you may end up with little or no equity left in your home. You may be able to arrange a fixed rate of interest but you should remember that in this case you will not benefit from any reductions in the Bank of England Base Rate.

Home Reversion Plan mortgages: This product will enable you to sell a share of your home and continue to live there for as long as you wish or until your death, no payments will be due until the property is sold at which point either you or your estate will receive the appropriate share of the sale. Customers who choose this plan will still own their share of the property and it will then be part of any inheritance. You will not benefit from any increase in the value of the property share that you do not own.

Both products have advantages and disadvantages and you should consider carefully if they are the best option for you.

 

If you are interested in a mortgage quotation including those offered by Home and Capital please complete our quick enquiry form.