Distressed mortgage-holders at risk of losing their homes after wind-down of Home Plus finance firm

Government changes to stamp-duty law inadvertently put the kibosh on the business model

Home Plus allowed people to sell a stake in their home – at a discount to the market value – in exchange for a lump sum and a lifelong right of residence. Photo: Stock image/Getty

Gabrielle Monaghan

Today at 03:30

About 100 homeowners in mortgage arrears who planned to use finance company Home Plus to resolve their debt are in danger of losing their homes.

It comes after government changes to stamp-duty law inadvertently put the kibosh on the business model of the country’s only home reversion provider (a system whereby you sell all or part of your home in return for a cash lump sum, a regular income or both) it is claimed.

The original article can be found here

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