One business model that exists in France but does not have a direct equivalent in the UK is the viager system for taking equity out of your home. The closest we have is Equity Release UK but the two systems are very different.

The viager system is a sale of a house or apartment between two parties and it is fairly common in France. The way it works is that the owner or two owners of a property, usually elderly, advertise their house for sale almost in the same way that they would with a regular sale.

The sale price is always quite a way below true market value but in addition to the price of the house, the buyer also pays a set sum each month to the seller for the rest of his life. The seller also has lifetime enjoyment of the property, so the house or apartment only passes to the buyer on the death of the seller – or if they are a couple, when both of them die.

It seems a cold hearted system, as the buyer is in fact waiting for the seller to pass away, but it can be very convenient for those elderly people who need money in their retirement.

It can work out a good deal for the buyer if the seller passes away relatively early, but if they live to a ripe old age it can end up costing them far more than the value of the house.