S.H.I.P. (Safe Home Income Plans)

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Equity Release (General Info)

Lifetime Mortgages

Reversion Plans

S.H.I.P.

Inheritance Tax

Whole of Life Ins.

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Download the FSA's brochure on Equity Release here:

Safe Home Income Plans ("SHIP")

SHIP's background:

Safe Home Income Plans (SHIP) is a company supported by leading providers of home income and equity release plans. It was launched in 1991 and is dedicated entirely to the protection of planholders and promotion of safe home income and equity release plans.

All participating companies are pledged to observe the SHIP Code of Practice. Members display the SHIP logo in their brochures and other printed material as a guarantee to their customers.

The SHIP Code binds these companies to provide a fair easy-to-understand and full presentation of their plans. Any scheme endorsed with the SHIP logo will be properly explained and safe.

- courtesy Safe Home Income Plans, 2007

Members of SHIP:

Below are the logos of some of the main product providers in this market place, who are also members of SHIP:

The SHIP Code of Practice:

1) The members of SHIP agree to provide fair, simple and complete presentation of their plans. The benefits, obligations, variables and limitations must be clearly set out in their literature, including all costs which the applicant has to bear in setting up the scheme, the position on moving, the tax situation and the effect of changes in house values.

2) The client’s legal work will always be performed by the solicitor of his or her choice. In all cases, prior to the completion of the plan the solicitor will be provided with full details of the benefits the client will receive. The solicitor will be required to sign a certificate to the effect that the scheme has been explained to the client.

3) The SHIP certificate will clearly state the main cost to the householder's assets and estate e.g. how the loan amount will change or whether part or all of the property is being sold.

4) All SHIP plans carry a 'no negative equity' guarantee i.e. you will never owe more than the value of your home.

- courtesy Safe Home Income Plans, 2006

For more information or advice, click here:

The equity release products may involve lifetime mortgages or home reversion plans. If so, to understand their features and risks, ask for a personalised illustration.

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We are not the industry body S.H.I.P. Safe Home Income Plans nor are we related to them.

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Registered in England and Wales Number: 5453659.

Financial Elite Limited is registered under the Data Protection Act 1998.

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