A comfortable retirement with any SHIP plan |
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Companies subscribing to the SHIP Code of Practice undertake to
provide a fair, simple and complete presentation of any home income
plan they may offer you. |
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The Code has been welcomed by Age Concern. |
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You will be given full details of your own obligations, commitments
and rights under the plan, including security of tenure on your home
for you and your partner (if applying jointly) for the rest of your
lives. |
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You will be told what costs are involved, your tax position and
the possible effect on your plan of moving house and of changing house
values, as well as the effect of the transaction on the value of your
estate on death. |
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Your own solicitors will act on your behalf and look after your
interests at every stage. Before your SHIP scheme can be finalised,
they will be required to sign a certificate confirming that the principal
terms of the contract have been fully explained to you. |
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A SHIP plan guarantees that you cannot lose your home - whatever
happens to the stock market or to interest rates. |
