Life Tenancy Investments
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Life Tenancies

Life Tenancies are medium to long-term property investments created by Homewise which have multiple factors that drive capital growth.

Life Tenancies Explained

A Life Tenancy is a UK residential property that is subject to a Lifetime Lease which has been acquired by one or more persons aged over 60 as part of a Home for Life Plan (HFLP) transaction.
A Lifetime Lease provides tenant(s), referred to as Life Tenants or Lifetime Lease Owners, with the right to live in their chosen property for their lifetime(s), or until such time as they move into permanent long-term care or voluntarily end the HFLP.
Life Tenancies are priced at significantly less than their respective vacant possession value, with discounts typically upwards of 40%. The younger the Life Tenants, the larger the discount that is available to investors against the vacant possession value (VPV).
On purchase, investors become the registered owner of the property at Land Registry, with a Lifetime Lease recorded against the property in favour of the Life Tenants.
When the last remaining Life Tenant passes away or moves into permanent long-term care, the Lifetime Lease will end, and the investor will be free to rent or sell the property on the open market to realise a return on their investment. 
During their occupancy, the Life Tenants are legally responsible for all maintenance costs, property improvements and property outgoings including utility bills, council tax, and any service charges or ground rent (if applicable).
During the origination of the HFLP, the Life Tenants have the option to choose to safeguard up to 50% of the property’s future value. The investor’s purchase price is reduced to reflect the remaining VPV being purchased.
Irrespective of any safeguarded amount, the investor is still registered as the property’s owner at Land Registry.

Key Features

High Potential

Life Tenancies are medium to long-term property investments with the potential for multiple factors to drive capital growth.

Low Purchase Price

Life Tenancies enable Investors to purchase residential property at significantly lower prices than their RICS vacant possession value.

Lower Risks

Life Tenancies offer exposure to the core UK residential market without any of the usual rental risks, finance risks, acquisition costs and taxes experienced in the buy-to-let property sector.


Life Tenancies are purchased at a discount which is based on an actuarial calculation that takes into consideration the number, genders and ages of the Life Tenants that are contracted to a Lifetime Lease.

Lifetime Lease

Life Tenancies are secured by a Lifetime Lease which is structured as a full insuring and full repairing residential lease.

Capital Growth

Life Tenancies benefit from capital growth on the full vacant possession value of the property.

Lower Rate Stamp Duty

Life Tenancies are currently excluded from the higher rate SDLT scale.


Life Tenancies are beneficially owned and registered in the name of the investor.


Life Tenancies can be traded at any time at their current market value.

Tax Benefits

Life Tenancies are usually taxed as capital gains rather than income.

Reversion Income

Life Tenancies can be assembled into portfolios that deliver an income stream to investors through property reversions.

The Homewise Home for Life Plan

Life Tenancies are created by Homewise through the Home for Life Plan (HFLP) product. Homewise and its founders have been offering Lifetime Lease products to the over 60s market for over 40 years.

The HFLP is a Lifetime Lease arrangement which gives people the chance to secure and occupy a property that may otherwise be outside of their budget for a one-off lump sum.

The HFLP provides Life Tenants with a home to live peacefully and securely for the rest of their lives with no rent or mortgage repayments to worry about.

Every HFLP is unique and tailored to individual customer needs. Whether they wish to downsize, upsize, relocate closer to loved ones, clear outstanding debts, provide an inheritance, or simply enjoy peace of mind in a home they love, there are a wide range of benefits depending entirely on the customer’s personal circumstances.

Prospective Life Tenants are able to choose any property on the open market that fits their budget.  Homewise then contracts to acquire the desired property from the current owner at the same time as entering the HFLP with the over 60s customer. Homewise simultaneously completes on both the property purchase and the grant of the Lifetime Lease, as well as the completion of the supporting HFLP legal documentation. Before potential customers can complete the purchase of a HFLP, they are encouraged to involve family in their decision and taken through a comprehensive and robust sales process, including receiving their own independent legal advice from their chosen solicitor. For more information on Homewise and the Home for Life Plan, click here.