Enhanced Lifetime Plans

While no two people’s equity release needs are likely to be exactly the same, an enhanced equity release lifetime mortgage plan takes into account the exact circumstances of applicants to ensure the best possible plan for them.

We’ll take you through the details of how enhanced lifetime plans work, answer some common questions and explain what the next steps should be if you think an enhanced lifetime plan might be the right one for you.

What is an Enhanced Lifetime Plan?

You may have heard of enhanced lifetime equity release plans being referred to as ‘impaired’ lifetime plans or mortgages. While the details are similar to ‘lump sum’ plans, there’s an important difference.

Lifetime mortgages are unlike standard mortgages – simply because they are only offered to people of a more senior age. The older the youngest applicant is, a larger sum or better interest rate can generally be offered. In a similar manner, ill health or a reduced life expectancy can sometimes mean that a greater lump sum amount or a more preferential interest rate can be offered by lenders.

The ‘enhanced’ element usually comes in the form of a detailed discussion about health and lifestyle. Where there is evidence of poor health, an enhanced product might be more beneficial compared to a standard plan.

Benefits of an Enhanced Lifetime Plan

For some people, the financial benefits of a lump sum lifetime mortgage might not meet the goal they were hoping to achieve. If this is the case, it may very well be worth looking at ‘enhancing’ the plan.

Enhancement can provide either a larger lump sum – or possibly a lower interest rate – both of which can be discussed and considered next to your financial plans when you talk to one of our expert advisors.

Even though some of the intricacies of an enhanced lifetime mortgage differ from more standard lump sum plans, some fundamental benefits still very much apply – including your right to retain ownership and occupancy of your home for the rest of your life.

What’s more, you can be absolutely certain that your family or other beneficiaries of your will and estate will not be left with the burden of debt as a result of your equity release plan. Any lifetime mortgage is repaid from the sale proceeds of the house only – and never extends into the wider estate. If there is any shortfall, this is a problem that is handled by the lender – and is not a problem that would see any impact on inheritance beneficiaries.

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Am I eligible for an Enhanced Lifetime Plan?

The standard eligibly criteria are in place for an enhanced lifetime plan, that’s to say that applicants should be over 55 years old with a property that is worth at least £75,000. Assuming that criteria is met, a series of additional health factors and conditions are examined, including:

  • A person’s height and weight
  • Any history of heart conditions such as COPD, heart attack or high blood pressure.
  • Any history of cancer, leukaemia, Hodgkin’s lymphoma, tumours or malignant growths
  • Neurological or central nervous system conditions such as a stroke, Parkinson’s, Dementia and Alzheimer’s
  • A historic or current smoking habit
  • Any use of medication
  • Impaired work history, including early retirement owing to ill-health

You may find that to guarantee the best possible rates and products for those who experience ill health, a lender would require a doctor’s confirmation of any of these types of medical conditions.

While discussion of your medical history might seem intrusive, you can be assured that your details are stored under the most stringent data protection methods possible – and in actual fact, unlike health insurance or standard mortgage products, you may very well benefit financially if any of the above contributors to poor health can be evidenced.

Would you like to hear a little more?

Does an enhanced lifetime plan sound like it might be the right one for you and your circumstances? If so, we’d recommend talking to one of the friendly team here at Equity Release Scotland for some further details.

We pride ourselves on the level of service we offer everyone who calls – whether or not equity release turns out to be right for them. In fact, it’s this level of service that means most of our business comes from word-of-mouth recommendation.

When you call, you can be certain of a hassle free, no nonsense and no obligation service. We’re not here to ‘sell’ you something – instead, we just aim to answer all your questions and give you all the facts – which you’re more than welcome to take away and discuss with the people who you trust. What’s more, you can also be 100% confident knowing that we only recommend products that meet with the strict guidelines of the Equity Release Council.

Get in touch with us by calling 0131 644 3664 or 0333 360 1958 – we’re always happy to have an informal chat about your exact circumstances and needs.


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“We just wanted to be able to stay in our home for some years to come and the local advisor from Equity Release Scotland was very helpful and understanding. We now feel very comfortable that we can afford stay in our home for the foreseeable future and have options further down the road.”

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“What a relief, our mortgage and debts repaid, one easy monthly payment which we can afford and the option to stop paying that in the future if we choose’ . The process was smooth and everything was clearly explained to us. We had lots of questions but our adviser was always available to answer any concerns we had....thanks a million”

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