A home reversion plan sees you selling a stake in your property in return for a cash lump sum.

By selling a share of your property, you become a co-owner but continue to enjoy the right to live in it for the rest of your life.

You surrender a percentage of your property in exchange for a sum based on its current value, but the ultimate cost is based on its price at the end of the deal.

You can usually sell between 25% and 100% of your property to the provider, but the amount you get in return will be significantly less than that share you surrender.

Home reversion plans are far less common than lifetime mortgages these days.