Home Income Plans

The value of your home, minus any outstanding mortgage you may owe, can be described as your 'equity'.

Because annuity rates have fallen in recent years, the previous popularity of home income plans and other schemes involving annuities has diminished considerably.


Traditionally, this option is designed to give you a fixed income for the rest of your life. Equity is released from your property & is invested into an annuity, which provides your income. Additional lump sums are possible, but certain restrictions may apply.


  • The property owner is guaranteed an income for life
  • A cash sum is possibly available in addition to the income
  • The older you are, the more the annuity will pay in income
  • A home income plan annuity is typically higher than purchasing a standalone annuity 


  • The level of the income generated in real terms can be reduced by the effects of inflation
  • Annuity rates at present are low at present, hence the timing of the purchase is important
  • If you died in the early years, you can lose out financially unless protection is included
  • The younger you are, the less the annuity will pay in income

Due to the complexity of lifetime mortgages & the various
  • options available, it is essential you seek fully qualified advice.

This is an equity release plan. To understand the features and risks, ask for a personalised illustration.