Home for life plans

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zlb
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Home for life plans Mar 25, 2019 20:15:33 GMT via mobile

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Post by zlb on Mar 25, 2019 20:15:33 GMT

Re those home plans for over 60s... where the company subsidizes purchase, in return for up to all of the end-of-life retail value (thus leaving no inheritance).

Is this the way things are going in the UK? I wonder what will happen if there are enough people left without any inheritance. These plans (I think homewise may be one company offering this) have been around for a while. Will they continue to be acceptable? What about investing in them?

Last Edit: Mar 25, 2019 20:16:34 GMT by zlb

james100
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Home for life plans Mar 25, 2019 22:00:49 GMT via mobile

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Post by james100 on Mar 25, 2019 22:00:49 GMT

Slightly different but I recall popular investment in France where elderly homeowner sells home to investor for discounted market value £x but retains exclusive occupation rights for life with no additional or ongoing financial obligations...sale proceeds are given to the homeowner like a pension.

Obviously, the investment is a "winner" when the homeowner/tenant dies earlier than expected. And they could live to be 100. But I find this concept very interesting indeed for both sides involved (and local government).

OK: investopedia explains it much better than I can www.investopedia.com/terms/v/viager.asp

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