HOMEWISE has launched a property finance scheme called Find & Afford that it said will be an alternative to traditional equity release schemes.
It allows people aged 65 and over to potentially release a significant amount of money through the sale of their current home that is tax-free and which does not accrue interest. Find & Afford enables pensioners to move into a home for life at a discount of between 24pc and 53pc of a property’s asking price. The pilot test of the scheme revealed a typical customer pays around £84,742 for their new home through the scheme, making an average saving of up to £56,494 on the property’s asking price. The average value of the properties customers sell to finance new Find & Afford homes is £...
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