Jargon Buster

A B C D E F G H I J K L M N O P Q R S T U All 

Joint Life
If you and a partner live in your property then Equity Release arrangements are usually on a 'joint life' basis. Your joint ages are used to calculate the benefit and are based on the younger age. This guarantees security of tenure for both of you.

Joint Ownership
A jointly owned property with only one of you in residence can qualify for an Equity Release plan. Using a Reversion plan, a set % can be used for the Equity Release with the remaining % written as a Declaration of Trust to your partner. Consent must be given by the other partner as the equity share cannot be realised until the eventual sale of your property.

This site is for UK residents only