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Call Ian or Allen on FREEPHONE 0800 169 5723 info@syh.org.uk
What makes us different?
SYH Charterhouse is authorised and regulated by the Financial Services Authority to offer Home Reversion. Unlike the unregulated sell and rent back schemes, we offer genuine Home Reversion with a secure lifetime tenancy. Meaning you really can sell your home and stay in it – for life!
Unlike many other Equity Release plans on the market, the SYH Charterhouse Home Reversion Plan is available for individuals who are aged 50 or over. In the case of joint applications, the plan is even available to customers aged 45 or over - provided that the other applicant is aged 50 or over.
Our Home Reversion Plan is specifically tailored for customers who love their homes and want to remain there for the rest of their lives. Our customers benefit from the security of life tenancy as well as releasing money from their property. The secure lifetime lease ensures that you can remain in your home for as long as you want.
The ownership of your house may have been transferred, but your home remains safe and intact, and you can remain in it safely and securely.
The SYH Charterhouse Home Reversion Plan means that you can stay in your own home, avoiding the stresses of moving, and still access cash when you most need it.
What this means to you:
- No moving costs, no upheaval or added stress.
- No estate agents’ fees!
- You don’t have to downsize.
- No restrictions during your lifetime tenancy as you may have from typical rented properties, e.g. not being allowed pets, not being able to smoke, or not having a garden.
- No unreasonable restrictions in terms of decoration and interiors - although please note that you are responsible for the upkeep of the internal areas of the property.
- The SYH Charterhouse Home Reversion Plan is discreet and confidential. No sale boards outside your home, no strangers wandering around your house, and to the outside world nothing will have changed.
- Life carries on as normal – without a number of the money worries that may have troubled you before. The only person who knows the difference is you. And that difference in your financial circumstances could be dramatically for the better!
Our team are here to help you at every stage and handle your questions personally.
You will also be reassured to know that while the SYH team support you throughout the whole process, the purchase of your home is underwritten by the largest Home Reversion investor in the UK - adding real security to your property transaction.
What are my options under the SYH Charterhouse Home Reversion Plan?
We currently offer either a rental or rent-free option on our Home Reversion Plan.
We offer the same 90-year secure lease for both plan options.
Rental Option
Our rental option may be able to offer a larger cash lump sum upfront. The plan involves a secure lifetime tenancy with rent payments that are, in most cases, significantly lower than the open market value.
Unlike a mortgage, where rates and payments fluctuate depending on the market, under the SYH Charterhouse rental option your rent will only increase once a year. This increase is strictly set at 3.5%, and is unaffected by inflation, so you will always know what you are expected to pay.
With freehold properties, the company even takes over the external building maintenance and buildings insurance payments, removing a number of the worries that often go along with renting.
Rent-Free Option
Under this option the customer remains responsible for payment of buildings insurance and maintenance.
The release figure is lower than the rental option, so the cash lump sum will be of a lower value, but no rent is payable for the duration of your tenancy.
What will it cost to do the SYH Charterhouse Plan?
The initial cost to you will be a one off application fee of just £300, which includes the independent valuation of your home by a professional Chartered Surveyor.
Additional assistance
We are also able to provide an independent solicitor to act for you during the entire process – selected from an expert panel. If you select this option we will undertake to meet your legal costs – provided that you complete on the transaction. More information about how to find a solicitor can be found in Useful Information.
Important information
SYH Charterhouse could help you to release much needed cash from your home - and stay in it for life.
As with any important decision about your home and future,
SYH Charterhouse strongly recommend that you seek legal advice and compare all the options that may be available to you, to ensure that you choose a solution that is best suited to meet your own particular circumstances and needs.
Home Reversion might not suit everyone, and it is important to give full consideration to whether a Home Reversion Plan is right for you.
You should also be aware that, if you do decide to go ahead, a one-off application fee of £300 - which covers some of the administration costs and the valuation of your home by an independent Chartered Surveyor - is payable.
SYH Charterhouse offers a Home Reversion Plan. The Home Reversion Plan we offer allows you to remain in your home and sell all of it to a reversion provider for a cash lump sum. As a result your estate may be reduced and means tested benefits affected. To understand the features and risks, ask the team for a personalised illustration.
SYH Charterhouse is authorised and regulated by the Financial Services Authority (FSA), Register Number 464386.