Homewise House purchase

masicat

Thought I would post to see if anyone can advise. My Uncle is getting on and has decided to move home using this company. They take
part ownership and it enables you more flexibility. I believe you end up leasing your home once you move with rights to live there until you die. He has asked for my advice . I think his financial position leaves him little choice as he still has a mortgage at 80 ! However, this company have a very low credit rating and look dodgy. Anyone help? www.homewise.co.uk

LenGlover

Golfie maybe?

LargeAddick

sounds like a type of equity release. remember they are not in this from the goodness of their heart. take legal advice.

Hartleypete

Most of these type of deals are a rip off be very very careful & read the small print.

cafcfan

Aviva used to do a lot of Equity Release - probably still do and at least you know they are a big firm that isn't going away anytime soon!
Look at their web site maybe?

cafcfan

Is Homewise FCA registered? If it was me I'd think very carefully indeed about putting an important financial transaction through a firm if they were not subject to any regulation and the safeguards that come with that.

ElfsborgAddick

masicat said:

Thought I would post to see if anyone can advise. My Uncle is getting on and has decided to move home using this company. They take
part ownership and it enables you more flexibility. I believe you end up leasing your home once you move with rights to live there until you die. He has asked for my advice . I think his financial position leaves him little choice as he still has a mortgage at 80 ! However, this company have a very low credit rating and look dodgy. Anyone help? www.homewise.co.uk

What little help it may be, my philosophy is when in doubt do nowt. If they look dodgy stay away.

CafcWest

I work for the FCA - check their website here: http://www.fsa.gov.uk/register/firmSearchForm.do I'm not an advisor but search for Homewise...

AFKABartram

Masicat say no