Life Tenancy Investments
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Purchasing Process

Everything you need to know about purchasing Life Tenancies.

Purchasing Life Tenancies

Homewise is the originator of the HFLP and is referred to as the “Provider” in the HFLP documentation. Once an investor purchases a Life Tenancy from Homewise, the new investor becomes the Provider and will have all the legal rights and obligations of the originator.
As part of your acquisition of a Life Tenancy from Homewise, your solicitor will provide you with a copy of the signed HFLP documentation between Homewise and the Life Tenants. This will provide you with full visibility of the contractual obligations between the parties and the confirmation of the independent legal advice received by the Life Tenants from their solicitor.
With most transactions, Homewise will seek to find a buyer for each Life Tenancy whilst the HFLP transaction is in the conveyancing stage. This ensures that potential investors can raise any enquiries relating to the purchase of the open market property prior to exchange and completion.
For each investment opportunity, you will be provided with a copy of the property survey (instructed by Homewise) and the full property details including location, photos, floor plans, details of the lease (if applicable) and the life tenant ages and genders.
Due to the nature of this investment, an internal inspection of the property is unlikely to be possible, and you will therefore have to rely on the information provided above to decide whether you wish to purchase the Life Tenancy.
Once your investment purchase has been agreed and secured, you will need to instruct a solicitor to represent you on the purchase.

Purchase Process Overview


Life Tenant


Stage 01

Life Tenant Qualification

Life Tenant qualified to enter Life Tenancy

Discount & purchasing budget agreed

Search & identify suitable properties

Stage 02

Property Agreed

Complete research & set purchase parameters

Property purchase agreed

Solicitor instructed

Lifetime lease purchase agreed

Solicitor instructed
Stage 03




Receive advice on HFLP

Investment purchase agreed

Solicitor instructed

Stage 04

Exchange & Completion

Simultaneous exchange
Simultaneous completion
Property purchased
Lifetime Lease sold
Life Tenancy Property sold
Simultaneous exchange
Simultaneous completion
Lifetime Lease purchased
Simultaneous exchange
Simultaneous completion
Life Tenancy Property purchased

Legal Structure

The HFLP legal documentation is comprised of several documents

Home for Life Agreement

This is the agreement governing the grant of the Lifetime Lease and will be entered into to fix a completion date simultaneously with Homewise contracting to purchase the property.

Lifetime Lease

This lease gives legal effect to the terms of the HFLP as defined in the associated legal documentation.

Home for Life Plan Conditions

These are incorporated into the Home for Life Agreement and Lifetime Lease and set out in detail the terms on which the Life Tenants shall reside in the property. The Conditions also set out the process to be followed in instances where the Life Tenant wishes to move the HFLP to a new property or bring the HFLP to an end.

Solicitors Certificate

This confirms that the Life Tenants’ solicitor has explained the HFLP and that they understand the consequences of entering the HFLP, that the customer has received independent legal advice, and that they have the mental capacity to enter the HFLP.

Declaration of Trust

This is only applicable if the Life Tenants have, as part of their HFLP, acquired a percentage of the property value (beneficial interest). The percentage of the value they have purchased is called their safeguarded share or safeguarded percentage. This document sets out how the property value is split between the investor and the Life Tenants.

Waiver & Indemnity

These are only applicable where the property is also occupied by a person not party to the Lifetime Lease, i.e., a carer, friend, or family member. These documents waive any additional occupant rights and protect the investor from additional costs.