Your Questions Answered
Is my property still my own?
- Am I safe in my home?
- Can I still keep the deeds to my house?
- Can I make changes to my property?
- Can I end the plan early and buy back my property?
- I’m worried my neighbours will know I have taken out an equity release plan.
- What if a relative or carer wants to live with me?
- What happens if Bridgewater goes "bust" or is taken over?
Yes. When you enter into a home reversion plan with Bridgewater you are granted a lifetime lease. This means as long as you abide by the terms and conditions of the plan you have the right to live in your home rent free for the rest of your life (or until you move into permanent long term care).Back to top
As land registry information is now electronically stored we are happy for you to keep your paper deeds. Please ask your solicitor to request these from us.Back to top
Yes, it is still your home and you can make minor changes to the property. However if you wish to make major or structural alterations to your property you must first check with us and to get our written authorisation before starting any works.Back to top
It is possible for you to buy back your property at the current market value. If you think you may wish to buy your property back in the future it is important you discuss this with your adviser.Back to top
There will be no reason for your neighbours to know that you have entered into a home reversion plan. You will not have a 'For Sale' board outside your property. At Bridgewater we respect our customers’ privacy and at all times remember that your property is your home for the life of the plan.
When you apply for the plan, a valuation will be carried out at your property which will involve the surveyor taking a photograph of your home.Back to top
We would allow a relative or carer to move into the property. You should notify us before they move into your property and they will be required to sign an Occupants Deed to confirm that they will vacate the property within 1 month of your death or moving into care.Back to top
In the event Bridgewater were to cease trading and our assets were to be sold, any subsequent provider would be legally obliged to abide by the terms and conditions of the lifetime lease agreed at the outset of the plan. So your experience of living in your home should not be affected.
For additional reassurance it is worth noting that any company taking over your plan must be regulated by the Financial Conduct Authority (FCA) and will be bound by its obligations in relation to your plan terms and conditions.Back to top