You must be at least 55 years old for a lifetime mortgage and over 65 for a home reversion. You also must own and live in the property and able to release enough equity to pay off any outstanding debts.
If you move out of your property, the equity release plan will end and your home will be sold. If your partner wishes to remain in the property, they can do so until they pass away or move into care too.
You remain the owner of your home if you take out a lifetime mortgage but with a home reversion scheme, you won’t be the sole owner of your home. With both plans you can still remain your property for as long as you live.