Crown Equity Release is a member of the Equity Release Council and has recently been renowned as the most generous arranger of current home reversion plans. The home reversion plans offered by Crown Equity Release operate quite differently than traditional reversion plans offered by other lenders, allowing borrowers to take advantage of a home reversion plan for which they would have otherwise been disqualified. If you have unusual circumstances surrounding your property or your ability to qualify for a home reversion plan, Crown Equity Release may be the right lender for you and your needs.
Crown Equity Release is able to offer unique products because it uses private investors. These investors offer a level of flexibility that is not always available when applying for a home reversion plan, especially when it comes to property types. Crown will consider cases individually, even those that would otherwise not qualify with the standard property criteria of other lenders. Crown will also make consideration for applicants based on their location. These property types can include non-standard construction, short leaseholds, and ex-council properties. All of these will be considered on an individual basis. For traditional lenders, properties must be standard construction. If your property is non-standard construction, a home reversion plan from Crown may be the right fit for you. Always contact us first for details of qualification rules.
The Crown Equity Release Home reversion plan is available to homeowners who are least aged 65 and who own a property that has a minimum value of £80,000. The maximum property value allowed under this plan is £1,000,000, but this is where flexibility is employed & can be run by the individual investors concerned as certain exceptions that can be made.
The Crown home reversion plan offers the ability to sell up to 100% of the property value and there is also an option available for a capital or monthly payment plan. If you decide to sell only a proportion of your property at the onset, there are further cash advances permitted. Crown will also accept the facility for an income payment to be made upon confirmation of an agreed overall facility. This can then be paid over a fixed period at a rate agreed between both parties. This can be particularly beneficial as the investor will also add an element of accrued interest to each payment, resulting in more capital being repaid over the term than would otherwise have been should only the single lump sum have been taken.
However, the minimum release on these advances is £10,000. It will ultimately be your choice how much of your home you sell during your home reversion. You do have the option to start by releasing a smaller portion and then leaving your options open when it comes to releasing further funds in the future. However, each time that you do choose to release further funds, they will need to be at least £10,000 which can be a rather large amount, depending on the overall value of your property.