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Choosing to complete a home reversion is a big decision. At More to Life we understand how difficult that question of retirement planning can be. Our expert team will guide you through any and all questions you might have about unlocking the cash value of your property through a home reversion. We want you to make the right decision for your retirement, so we work closely with you at every stage of the journey.

Decided a home reversion might be for you? Here’s our step-by-step guide on how the equity release process works.

Step 1 – Listing

Listing your property is the first step to unlocking the cash tied to your home. That all starts with a phone call. Simply get in touch with the team at More to Life to arrange an appointment. We will visit you to discuss any questions or concerns you might have, and assess the suitability of your property.

After the visit, if you’re happy with what our team has to say, the next step is to sign up to the listing terms and conditions. This captures all relevant details, as well as setting out confidentiality agreements and terms of the listing.

As part of this agreement an estate agent must be employed to manage the process. That guarantees a qualified real estate professional on hand to help support you. More to Life simplify this process thanks to a dedicated real estate agency partner with experience of home reversions. We’ll provide the Agency Appointment Letter at the time of our visit.

Once the completed documents are received, we will arrange a visit to take photos of your property. More to Life then post your property on its website listings completely free of charge. Your identity is not revealed, and we do not give the exact address of your property.

Step 2 – Inspection

When More to Life receive a note of interest on your property, we agree to arrange an inspection. This is just like a traditional house viewing when selling a property. The real estate agent will take care of relevant arrangements in joint discussion with you and the potential investor.

It’s important to note that More to Life provide no information to the potential investor as to the state of your property, or your health.

Step 3 – Negotiation

Once an investor provides an indication of the amount they are willing to pay for your home, you may negotiate that price through your real estate agent. If an offer is made, you have the final say. That means if you feel the offer doesn’t meet your requirements, you have the right to turn it down.

Step 4 – Agreement

If you’re happy with the price offered, it’s time to accept. Your real estate agent will prepare an offer letter which will be signed by you and the investor.

The purchase process than moves to your lawyer, much like in a regular property sale. Your lawyers will complete important documents such as the sales and purchase agreement (SPA), the lifetime tenancy agreement, and the conveyancing.

Step 5 – Cash Release

With the agreement made, and the documents signed, it’s time to enjoy financial security in your retirement. You receive the negotiated value of your home in a single lump sum payment.