Over 60s Lifetime Lease Property Purchase
Published / Last Updated on 02/05/2019
Over 60s - purchase a lease for life property i.e. right to live in the property rent free for the rest of your life.
Purchased at a discount based upon age e.g. Age 60, discount around 34% of market value Age 75, discount may be 50% to 60%.
Upside is afford to live in a nicer home at a discount or indeed similar home to what you have at present but bought for lower price thereby releasing equity/funds for you to enjoy.
Having done the maths, it works out at a cost similar to rental costs of the property to your usual life expectancy.
Downside = no value when you die unless guarantees built in.
