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Your Questions Answered

Moving out, moving on

A.

Yes. As a member of The Equity Release Council (ERC) our plans allow you to move home should you decide to do so in the future, subject to the new home meeting the Property Suitability Criteria applicable at the time.

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A.

If the choice is made for you to move into permanent care we will need written confirmation from you or your personal representative. If you are the sole occupant arrangements will need to be made to clear your property and return the keys to us. We will then arrange for your property to be placed on the market for sale.

If you entered into the plan with a spouse or partner, and only one of you needs to move into long term care, the other plan holder can remain in the home for the rest of their lifetime or until they need to move into long term care.

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A.

If you entered into the plan with a spouse or partner, upon the death of the first plan holder, we ask that you inform us and send us the original death certificate, so that we may update our records. We will return the original death certificate to you.

Upon death of the last surviving plan holder, the executors of your Estate need to notify us and provide us with details of the solicitor dealing with your Estate. We would then write to them requesting that the property is cleared and the keys forwarded to us. We will arrange for the property to be valued and placed on the open market. Once a sale is completed the proceeds will be split in accordance to the percentages owned.

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