MGM Advantage

Safe Home Income Plans, SHIP for short, is a voluntary trade organisation established in 1991 dedicated to the protection of equity release clients and the promotion of safe home income and equity release plans

Certain State benefits are means tested and these could be affected if you choose to take equity out of your home. In this post we’ll cover key benefits that may be affected.

Both lifetime mortgage and home reversion schemes have their advantages and disadvantages. This post contains a comparison of some of the key features:

Home reversion plans allow you to sell part or all of your property to a provider in return for either a lump sum or a regular income. Here we’ll explain how they work.

Lifetime mortgages are the most popular way of releasing equity in your home without moving house. These products work in a similar fashion to a normal mortgage, with one major exception…

Equity release is a way of creating an income from your home without moving or taking in lodgers. You can take a lump sum or a regular income and you don’t need to repay any of the money until after you die.

In the context of retirement, downsizing means selling the home you’ve lived in and moving to a smaller home. If you are considering this route, here are some things to consider before you take the plunge…

If you’re reluctant to sell your home, but keen to generate an income from it (without giving up any of your equity), renting a room could be the answer for you.

These days more and more people, even those who have made reasonable provision for their retirement, may need to look to their home as a source of income in retirement