Located in Surrey, Just Group plc is a FTSE-listed specialist UK based financial services company created following the merger of Just Retirement Group and Partnership Assurance Group.
Lump Sum Lifetime Mortgage
The Lump Sum Lifetime Mortgages enable you to release some of the money tied up in your home in one single lump sum. To qualify you must be 55 and over, own your own home in England, Scotland or Wales worth a minimum of £70,00, and be a UK resident. Interest is charged at a fixed rate and you do not usually have to make any repayments until you die or move into long-term care.
Interest Serviced Lifetime Mortgage
An Interest Serviced Lifetime Mortgage works in a very similar way to a drawdown lifetime mortgage. The mortgage is secured against your home and only repayable when you die or move permanently into long-term care. The main difference is that you have an opportunity to pay some or all of the monthly interest being charged, which will reduce the overall amount owed. You can typically borrow between a minimum of £10,000 and a maximum of £2,000,000 if you live in the UK.
Home Reversion Plan
A Home Reversion Plan is a way to sell all or part of your home, and in return, be given a tax-free cash lump sum or regular income, and a lifetime lease. This is basically a promise that you can stay in your home until you die or go into long-term care. To qualify you must be aged 65 and over, a homeowner, and a UK resident.
Just also offer a range of other financial services including Savings and Investment Accounts, Annuities, Credit and Mortgages, Insurance and Pensions.
Just Reviews and Ratings
There are very few online reviews for Just but the ones available are overwhelmingly negative with customers citing a bad complaints management procedure and an inability for the company to provide decent progress updates. One customer has even approached the Financial Conduct Authority and Financial Ombudsman over a fraud complaint.
Trust Pilot – 2.6/5 (based on 5 reviews)
- Simple plain English website with a useful jargon buster
- Useful online calculators including longevity calculator, retirement budget calculator, taxation calculator, drawdown risk calculator and quick income calculator
- A decent range of financial products and services to pick from
- Quarterly newsletter available offering retirement news and tips
- Not as well-known or reputable as its competitors
- Very few customer reviews
- The reviews that are available are fairly negative