Homewise home for life plan

[brightncheerful]

Does anyone have any experience of the Homewise Home for Life Plan?

https://www.homewise.co.uk

I might suit us, they could do p/x of our existing property at circa 13% discount on market value. They'd then have profit if any from selling in their own time.

Under the plan we could buy in a higher price range than otherwise. Although the likely p/x price would be than we would accept if we were to sell, we wouldn't have to use all the net proceeds for the plan. We could still release some capital and not pay as much for the plan yet still be in a higher buying range.

The gist is that we can stay in the property for ever, immortality permitting or if to care home. depending upon how much if any we would want to safeguard at the onset, up to max 50%, min 0%, either of us would inherit that amount on sale of the property. The plan is assignable subject to a buyer satisfying HW's criteria but f doubt we would want to move.

Most of the criticism I have found online is from people annoyed at losing their potential inheritance, or annoyed that Homewise would get most of any increase in value of the price of the property bought. The first doesn't apply to us, the second presupposes that property prices would continue to go up long term (which they might but who cares).


---

I shall post same question on DAK and PIP with requests for replies here.

tia
Bnc

[supremetwo]

Who pays the maintenance while you are 'staying' there?

[brightncheerful]

The 'maintenance' would be my responsibility.

The Homewise model isn't their home as such, as with a village type thing or sheltered housing. I could buy any type of residential property in England and Wales provided it is standard construction. If I buy a property that requires a lot of maintenance then I've had a lot of maintenance to pay for.