Home reversion plans operate in an entirely different way to Lifetime Mortgages as you sell all or part of your property to the reversion company in exchange for a cash lump sum.
The ownership of the property reverts to the reversion company. You won’t get the full market value for your house because, as part of the exchange the reversion company grants you a lifetime lease for your property. This gives you the right to remain in your own home rent-free for as long as you wish.
For example, if you sold half of your property to the reversion company, when you pass away or move into long-term care, the proceeds of the sale of your home would be split 50:50 between them and your estate.