Lewes Forum thread

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Home Wise

On 3 Oct 2017 at 5:20pm Eagleyed wrote:

any people are there looking to buy a house being stumped by all the houses being sold through Home wise? there seem to be a lot of them in Lewes? what is the deal with them and aren't the vendors excluding other potential buyers?
i don't know how it all works so this is a genuine point of curiosity.

On 3 Oct 2017 at 5:38pm Earl of Lewess wrote:

They're a pain in the neck. Just as you get excited and imagine yourself living there, you see the small print and realise that you're three hundred grand short...unless you take the deal and hand a fortune over to them in the future.

On 3 Oct 2017 at 6:49pm Fairmeadow wrote:

Does anyone know how this system works? Are you buying a lifetime tenancy and gambling on living longer than the actuaries expect? Reading the link, nothing is explained - unless you open yourself up to pressure selling. All the classic signs of a scam. I may be wrong, but if it looks like a duck and sounds like a duck and smells like a duck, it might just be a duck. Caveat emptor.

On 3 Oct 2017 at 6:51pm Deja Vu wrote:

It tells you what it is, "lifetime lease" what more do you need to know?

On 3 Oct 2017 at 7:42pm Just look at wrote:

MoneySavingExpert on the net and all will be revealed

On 3 Oct 2017 at 10:13pm plum pudding wrote:

Homewise pays around 30% to 40% for 100% ownership of a new property. They let you live in it and you pay the cost of maintaining the property until you die or go into a Nursing Home!
i would say good for some not for others dependant on circumstances. if you have no children or anyone to think about in terms of inheritance then yes it might be for you otherwise i wouldn't consider unless you speak to an FSA.
the only thing i don't get is why vendors choose to sell through the scheme as surely these buyers are in the minority?

On 3 Oct 2017 at 10:24pm Horseman7 wrote:

You can still buy the house, to keep, from them at a much higher price.

On 3 Oct 2017 at 10:51pm Tom wrote:

Another thing that is bending over and f***ng the housing market royally.

On 4 Oct 2017 at 7:59pm Old Malling wrote:

These houses are usually on sale through a normal route too. Cubit and West promote the Homewise option to their sellers I believe, presumably they get paid for that.....