Home & Capital is increasing the rates on its home reversion plans. For example, the home reversion rate for a male aged 70 has now risen from 43.25% to 47%.

The firm has also increased the maximum release amount for customers from £85,000 to £120,000. Customers are able to take out a home reversion plan on up to 95% of the value of their property.

Home & Capital will continue to charge no arrangement fees and will be offering free valuations on all applications made before 31 July. Products are available for customers aged 65 years or more.