Equity Release

The benefits to you

• You receive a cash lump sum to spend on whatever you want.
• You can continue to live in your home rent free until you die or go into long term care.
• A Home Reversion Plan is portable so you can still move if you want to, as long as your new home meets the eligibility conditions at the time.
• The 'inheritance protection' guarantees a minimum payment to you or your estate if you die or need to move into long term care within the first four years of the plan.
• If you sell less than 100%, you may be able to guarantee an inheritance for your family from the sale of the property.
• The 'house price inflation' guarantee means you may receive a payment when you die or move into long term care, if your property value increases above a certain level over the term of your plan.
• We encourage you to involve your family in the decision process and they can attend any of the appointments you have with one of our advisers.

Things to think about

• Because the money from the Home Reversion Plan is provided upfront and you continue to live in your home rent free, you'll get less than the full market value of the share of the property that you sell to Grainger plc.
• Although you remain living in your home, you have to transfer the legal title of your property to Grainger plc.
• Selling all or part of your home and the costs involved will reduce the value you have in your home and the amount of any inheritance you will be able to leave.
• If you have an existing mortgage on your home, you would have to use the money you release to pay off the existing mortgage first, but then you would be free to spend it as you wish.
• You don't have to pay tax on the amount you receive, but it may affect your tax position and entitlement to means tested benefits.
• When the plan ends, which is usually when you die or if you go into long term care, Grainger plc will sell the property and receive the total sale price. They will then take their share of the sale price and pay any balance to you or your estate.
• A Home Reversion Plan is a long term commitment – it can be expensive to buy back the share of your property in the future as you will have to pay the full market value.

This is a home reversion plan. To understand the features and risks, ask for a personalised illustration.

Find out more on how to apply for equity release

How to apply for equity release

Lifetime mortgages and the Home Reversion Plan are not available in the Channel Islands and Isle of Man. The Home Reversion Plan is also not available in Northern Ireland or Scotland.

Aviva Equity Release UK Limited. No 3286484. Authorised and regulated by the Financial Services Authority. Aviva Equity Release UK Limited FSA Registration No 310433. Registered in England at 2 Rougier Street, York, YO90 1UU. www.aviva.co.uk

WC07047 12/2010