Legal Advice: The Agreement includes a certificate that must be signed by your lawyer. Lifetime will not be able to proceed without this. As the homeowner you are responsible for the legal costs.

Independent Valuation: As the homeowner, you are responsible for arranging an accredited independent valuation at your expense approved by Lifetime. Lifetime can provide a list of accredited valuers.

Establishment Fee: 0.20% of the Initial Value of your home (inclusive of goods and services tax).

Lifetime can arrange for these costs to be deducted from your first year of income payments. Talk to Lifetime for further information about this.

Annual Fees: 0.23% of the Initial Value of your home (inclusive of goods and services tax) charged annually for a maximum of 10 years.

After ten years: $1,000 per annum for the first year and for each subsequent year increased by the change in CPI for that year and for each year thereafter (inclusive of goods and services tax).

Insurance: You must at all times insure and keep insured your home and insurable improvements against fire, and natural disaster, and all other risks normally covered by a comprehensive insurance policy from a New Zealand insurer with a financial strength rating of A- or better.

Rates: You must pay all rates, taxes, utilities and any other charges from time to time payable in respect of your home by their due date.