Equity release schemes such as lifetime mortgages whereby an elderly person mortgages his or her house to an insurance company or other institution to fund an annuity (joint life and survivor annuity for couples). Mortgage interest is met from the annuity instalments (or deferred until death) leaving an income for the homeowner(s). The loan, up to 80% of the value, and any rolled-up interest is repaid on death but the estate benefits from any capital appreciation. Compare with home reversion plan.