Homewise Home for Life Plan Review

At a glance

Moving closer to family or finding a home without stairs can make retirement easier. But what happens when the property you need costs more than your budget allows?

Homewise’s Over 60s Home for Life Plan offers one option. Available for eligible properties in England and Wales, it lets people aged 60 and over pay a single amount for the right to live in a new home for life, without rent or mortgage payments.

Homewise advertises savings of 8% to 60% against a freehold property’s market value. However, you buy a lifetime lease rather than the property itself. The plan is not equity release and is not regulated by the Financial Conduct Authority (FCA).

What is Homewise?

Homewise is a family-run property business based in Worthing, West Sussex. Its history dates back to 1971, with its first lifetime leases sold in the 1980s. The founding Neal family still runs the business.

With the Home for Life Plan, Homewise or an investment partner buys your chosen property. You pay for a legally protected lifetime right to live there. You do not own the bricks and mortar, even though it becomes your permanent home.

The distinction matters when comparing prices. A £180,000 lifetime lease and a £180,000 property purchase give you different rights and different assets to leave behind.

Unlike equity release, the plan cannot be applied to your existing home. You must move to another property. It could therefore be worth exploring if moving is already your goal, but it will not help you release money while staying where you are.

How the Home for Life Plan works

With a Home for Life Plan, you pay a one-off amount for the right to live in your chosen home for life. Homewise or an investment partner buys the property, while you receive a lifetime lease.

The process usually involves these steps:

1. Get an estimate. Start with Homewise’s online calculator to see what you may be able to afford. The results are estimates, so you will need a personalised quote before making any decisions.
2. Find your next home. Choose a property in England or Wales that meets Homewise’s criteria. The team checks its suitability and confirms the cost of your plan.
3. Choose your inheritance protection. You can protect up to 50% of the property’s future value for your estate. Protecting more means paying more for the same property, or choosing a less expensive home within the same budget.
4. Get independent legal advice. It is compulsory to appoint a solicitor to explain the agreement before you exchange contracts. They should check your rights, responsibilities and the costs of moving again or ending the plan.
5. Complete and move in. The property is purchased and your lifetime lease is registered at the Land Registry.

Homewise says your registered lifetime lease protects your right to remain if the company goes into administration. Any protected inheritance share is covered separately by a Declaration of Trust. Your solicitor should explain how these protections work.

If two people are named on the lease, the surviving partner keeps their right to live there. The plan normally ends when the last named person dies or moves permanently into long-term care, with a doctor confirming they cannot return home.

The provider retains the property when the plan ends. Any protected share is paid to you or your estate, less your share of selling costs. Anyone else living there must leave within the agreed timeframe.

Pros and cons

Pros

• More homes within reach: Your budget could stretch to a more suitable home.
• No borrowing: There is no loan balance or interest building up.
• Legal protection: A registered lifetime lease protects your right to occupy, subject to its terms.
• Inheritance option: You can protect a percentage of future value.
• Pay less than the market price: Secure a lifetime lease for less than it would cost to buy the property outright.

Cons

• No property ownership: Your payment buys occupation rights, not the home.
• Reduced inheritance: Without protection, none of the property’s value passes to your estate.
• Limited flexibility: Occupancy rules and conditions on moving again apply.
• No FCA regulation: The plan does not have the same regulatory framework as equity release.
• Costs remain: Maintenance and household bills still need budgeting for.

Weigh the benefit of the home you could live in against what you and your family give up before deciding if a Home for Life Plan is suitable for you.

Why do people choose the Home for Life Plan?

The main attraction is making a suitable home affordable. This could help someone move closer to family or find a home that is easier to manage when suitable properties cost more than their available budget.

Homewise can also appeal if you want to avoid debt. There is no interest to calculate and no growing mortgage balance. Once the plan price is agreed, you know the amount you are paying for your lifetime occupation rights, although household costs can still rise.

Inheritance protection offers a middle ground for people who want both a better home and something to leave behind. However, it reduces the extra buying power available.

The company’s long history may provide reassurance. Still, a track record does not remove the need to compare alternatives.

Important to know

Before choosing a Home for Life Plan, make sure you understand the costs, restrictions and how it could affect your future plans.

• FCA regulation: Homewise is not regulated by the Financial Conduct Authority. The company says this is because it offers property services, not loans or other financial products. Independent legal advice is compulsory, but the plan does not have the same regulatory protections as equity release.
• Ongoing costs: You still pay council tax, utilities, buildings insurance, repairs and maintenance, plus any service charges or ground rent that apply.
• Who can live with you: You cannot add anyone to the lifetime lease later or sublet the property. Other people can live with you by prior agreement, but they have no right to remain when the plan ends.
• Changes to the property: You can decorate, but need approval for bigger structural work, such as an extension. Check the conditions before planning alterations.
• Moving into care: If the plan ends because you move permanently into care, any protected share is paid to you and counts as an asset. This could affect eligibility for council-funded care and reduce the money left for your family.

Ask your solicitor to explain how these conditions apply to you before signing.

Customer reviews and reputation

Checked in November 2026, Homewise had a 4.8/5 service rating on Feefo. Its main Trustpilot page showed 4.5/5 from 273 reviews.

Positive feedback frequently highlights approachable staff, patient explanations and reassurance during a stressful move. Reviewers also praise advisors for being very knowledgeable. Some reviewers value having someone available to answer questions and keep the purchase progressing.

Less positive feedback raises concerns about slow transactions, unexpected costs and communication. Some feedback describes pressure over sale-price reductions or sales contact that felt too persistent. A recent Feefo reviewer, for example, praised efficiency while finding the contact too forceful.

These are customers’ reported experiences, rather than independently established findings. Property chains can also cause delays outside one company’s control.

Some reviews concern initial enquiries rather than completed plans.

Homewise reviews: Martin Lewis and MoneySavingExpert

Searches for “Homewise reviews Martin Lewis” may lead to a MoneySavingExpert forum discussion started in July 2014.

Contributors questioned ownership, fees, maintenance responsibilities, inheritance and what might happen if care became necessary. These remain useful questions for your solicitor.

However, the thread contains forum users’ opinions and speculation, with older product details. It is not a Homewise review or endorsement by Martin Lewis, and should not replace checking today’s contract.

Conclusion

Homewise may suit people aged 60 and over who need to move, want to avoid borrowing and are comfortable exchanging ownership for lifetime occupation rights. Weigh up the wider choice of homes against the plan’s restrictions and how much you could leave your family.

A lifetime mortgage through Age Partnership may be more relevant if you want to keep ownership, stay in your current home or explore borrowing towards a purchase. However, interest and fees can substantially reduce your estate.

Before choosing either, obtain independent advice and written cost illustrations.