I have just checked out their website. It is a family business, not regulated by the FCA because they do not offer finance: loans, mortgages etc so do not come under FCA’s remit.
My understanding is that they provide housing and arrange a Lease for Life, which you pay for up front, to purchase the right to live in the property for the rest of your life, with no further charges, no rent, no interest. You buy below market price. ( the vendor receives full market price). You are not buying the actual bricks and mortar.
It is possible, at a higher initial cost, to enable a percentage of the purchase price to provide an inheritance when you die.
You must get independent legal advice about the scheme and they won’t let you go ahead without proof that you have had professional advice.
As far as I can tell it all looks legitimate. I have never come across anything like this before. I think it seems worth looking into, with the caveat that if something looks too good to be true, it probably is.
I suppose if someone has no heirs, they can get a property to live in at a good price. I haven’t looked into what it might cost to be able to leave an inheritance from the scheme, but there is an online quote facility.
Worth further investigation?
My dad still cooks better than me and he's 71
Relatively new here so an introduction.
