A summary of reversion schemes and lifetime mortgages

In summary

1. Reversion schemes generally favour older clients, who live longer.
2. Reversion schemes provide greater certainty as to the costs and benefits.
3. Lifetime mortgages offer more flexibility than reversion schemes as to the ways in which payments can be made to the homeowner.
4. If house prices increase by more than 2.5% pa, lifetime mortgages are likely to leave more of the property value for the homeowner's estate.