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Over 60s Home for Life house purchase?

(5 Posts)
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Isla71 Wed 28-Jan-26 16:33:08

I am unsure if I am posting on the right forum, so will try two...I am about to purchase a property in Newark. I noticed Homewise6 advertising a property. Apparently, they purchase a property and sell it back to an over 60 at a lower rate, meaning it would also give me cash in the bank. I would live in property for rest of life or until moving into care home. Depending on what percentage I purchase, I can either leave a small legacy or none at all. As I have no-one to leave anything to, it makes an attractive offer. Does anyone know if this is a good scheme?

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Floradora9 Wed 28-Jan-26 16:37:44

Have a good google about this I found this on MSEhttps://forums.moneysavingexpert.com/discussion/4323509/homewise-life-time-lease-plan-for-over-60-s

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Isla71 Wed 28-Jan-26 16:51:36

Floradora9. Many thanks. Will have a look and see what Martin has to say.

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Lemondrizzle1 Thu 29-Jan-26 11:00:23

I would urge you to consult a good solicitor.

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Youngerthanspringtime Sun 15-Feb-26 15:11:51

I bought my new bungalow on a shared ownership scheme - not the same as you're looking at but has the same outcome. . I opted for 75% purchase which my previous sale covered so I would have something to leave my family and pay a small monthly sum for rent of the other 25% and admin costs.
As has been said a good solicitor is a must and if all is well and it suits your needs. it sounds fine.

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