# S.H.I.P Scheme



## Dualtha (6 Mar 2006)

My parents are both aged 65 and are considering taking the S.H.I.P option on their home. Has anyone any information on this?
Thanks


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## CCOVICH (6 Mar 2006)

Have a look at this thread.


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## Ric (6 Mar 2006)

I suggest you get independent actuarial advice and that you consider the information here purely as a starting point. This is an issue that is beyond the skill set of most posters here.


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## runner (7 Mar 2006)

General concencus is that S.H.I.P and all similar equity part selling are very bad value for money propositions - for the consumer of course!
Better to downsize if possible.


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## Dualtha (7 Mar 2006)

Thanks. I suggested to them that it was a bad deal considering the interest rates alone.


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## ajapale (7 Mar 2006)

Is SHIP a generic product or a proprietorial brand of some Financial Institution?


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## ClubMan (7 Mar 2006)

Do a search for "SHIP", "RRL" and/or "reversion" and you should find some relevant discussions on the whome area of _SHIP _and related products.

SHIP is a brand name and is a type of equity release/residential reversion product for older home owners. There are other comparable products under different brands on the _Irish _market.

I would echo what _Ric _says above about getting independent, professional advice in this area but would not be so quick to dismiss the possible useful information that you might obtain here on _AAM_.


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## levelpar (7 Mar 2006)

Dualtha said:
			
		

> My parents are both aged 65 and are considering taking the S.H.I.P option on their home. Has anyone any information on this?
> Thanks


 
Hi Dualtha,  I would suggest downsizing as my wife and I are doing. To my mind ,we will have a nice sum to supplement pension AND equity in the new house which should appreciate in value in the normal way.


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## ClubMan (7 Mar 2006)

frando said:
			
		

> we will have a nice sum to supplement pension


Tax (_CGT_) free too!


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