I contacted Homewise, having read various reviews and they are all over Rightmove. My partner and I wish to down size our house, we live in the London area and expect to have £900,000 left after sales. A budget of £600,000 to spend on a new house. So £300,000 to invest in us. Aged 60, Homewise would give us £60,000 of the £600,000 for a 50% share in the new house. We would maintain and cover various costs and upon both deaths or care home, Homewise would sell the property. So our estate would receive 50% of the sale price. As property doubles on average every 20 years, its a very interesting option. Our present house has trebled in 17yrs.I spoke to my IFA, who had one question before we got too excited. Homewise talk about up to 59%, how do you get the 59% investment? Simple, your older than 60.Homewise and I had already exchanged a few emails and I had explained our needs. They arranged a phone call with an advisor. A very quick Q&A they estimated that at aged 60. They would offer £60,000 on a £600,000 purchase subject to T&C.The Homewise offer was not substantial enough to be worth while to us. I understand why the offer was low, if we live another 25yrs. Homewise have a long wait for any substantial return and the rules on CGT may have changed. Its not a simple investment to either party.As an option to buy a property, its very interesting and I would recommend looking at. Everyone’s situation is different.I have read some of the 1 star reviews and feel some didn't understand the product fully. A home is a big and often complex investment, so please ask questions.
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Homewise is a family-run business that has been helping people find and secure the right home for their retirement for over 50 years.
If you’re aged 60 or over and thinking about moving in England or Wales, Homewise can help. With a Home for Life Plan you could secure the home of your dreams for thousands less than the market value, and enjoy living there rent-free, mortgage-free and without any repayments for your lifetime.
We’re not an estate agent, we don’t have a stock of property, and we don't own the properties you see on Rightmove or Zoopla, but we do have unique relationships with estate agents, homebuilders, and retirement specialists across the country, to be able to help customers aged 60+ find their ideal home.
If you are aged 60 or over, visit our website and contact us to find out how we can help you find the perfect home, and be free of financial burdens in your retirement.See more
