You pay a one-off amount, which is significantly less than the market price, to purchase a Lifetime Lease on the property of your choice. This guarantees you the right to live in the house for as long as you want without any rent due; but you never actually own the property itself (although you can buy or secure a certain percentage for inheritance depending on the scheme you choose and how much money you have.) It’s not a great idea for those with the option to buy something outright, albeit if that means they have to have something smaller or in a less nice area than the Lifetime Lease would allow.