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SHIP - Shared Home Investment Plan

NMS ANNOUNCE EQUITY RELEASE OPTIONS FOR SENIOR CITIZENS?

 
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S.H.I.P.'s equity release schemes allow home owners (couples minimum age 70, singles minimum age 68) to release a tax free lump sum by selling S.H.I.P. a portion of their home. Home owners retain the guaranteed legal right to continue to reside in their home for life. As the tax free lump sum is not a “loan” or a “mortgage” there are no repayments to be made.

WHY NOW?

While S.H.I.P.'s products are relatively new to the Irish market (launched in 2002) these types of equity release solutions have been available in the UK for over 30 years. Click here to contact NMS about SHIP.

YOU COULD BE SITTING ON A GOLDMINE

Residential properties have increased in value by over 230% in Dublin and 185% nationwide since 1997. Why not unlock some of this huge increase in the value of your home with a tax free lump sum to help you to enjoy your retirement? Because of the growth in house prices, you now have an opportunity to obtain a tax free lump sum while still retaining a significant equity share in your home.

INFLATION ATTACKS YOUR INCOME

Living on a fixed income from a pension in Ireland and/or low interest returns on savings is making it increasingly difficult for many people to enjoy the standard of retirement that they would have hoped for. Meanwhile inflation in Ireland continues to eat away at the real value of your savings.

A tax free lump sum from S.H.I.P. can greatly assist you in maintaining or indeed enhancing your lifestyle in retirement.

FREEDOM TO ENJOY YOUR RETIREMENT

Under your Shared Home Investment Plan, S.H.I.P. will purchase a portion of your home depending on the lump sum you require. There are no restrictions on the uses to which you can put the lump sum you receive, for example:

  • Leisure activities
  • Home improvements / decoration
  • Travel
  • New car purchase
  • Supplemental income
  • Financial support for other family members
  • Purchase of a holiday home
  • Medical Treatment
  • Nursing and home care

HOW MUCH CASH CAN I RAISE?

This depends on your age(s), the open market value of your property and the percentage of ownership you want to transfer, up to a maximum of 90%. The minimum lump sum that S.H.I.P. will invest is € 35,000. Various options are outlined in each case at an early stage in the application process.

ARE THERE ANY RESTRICTIONS ON WHAT I CAN DO WITH THE FUNDS RAISED?

No. You may use the funds as you wish.

CAN FURTHER LUMP SUMS BE ARRANGED IN THE FUTURE?

Yes. You may be able to sell an additional percentage of your house based on the open market value of the property at the time of any subsequent application(s), subject to a maximum of 90% of current market value.

   
     
   

To request more information about SHIP, Email us at info@nms.ie or Telephone us at 1850 700 777 .
     
 

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