Are you aware that you could qualify for an enhanced lifetime mortgage? You could increase the amount of tax free cash from the market value of your home by answering some simple questions on your lifestyle and health. If you answer “yes” to any of the questions on the lifestyle questionnaire you could be on your way to more cash than you would normally qualify for under a standard lifetime mortgage plan.
There are now providers who will offer you a bigger cash lump sum based on your health and the value of your property. The more severe your health, the bigger amount of tax free cash you could be entitled to. Using an equity release broker such as Equity Release Supermarket offers a gateway to these providers who will arrange your enhanced lifetime mortgage for you by asking a range of questions based on your health and lifestyle.
Answering “yes” to one or more of the questions could guarantee you an increased offer by way of an enhanced lifetime mortgage which effectively means you’re liquidising the largest asset you have and turning this into cash that you can use in any way you wish for your twilight years. There are no strings or catches or repayments unless you die or move into long-term residential care. Professional providers will actualise your life expectancy based on the information provided on the simple to complete questionnaire.
Providers have poured over mortality rates and have now tailor-made enhanced lifetime mortgages available to any person over the age of 55-years old whose property has a current market valuation of £70,000 and can answer yes to any of the simple health questions that can affect most people by the age of 55-years anyway.
Making the most of the tax-efficient benefits by using your property to make your retirement a more financially easier few years and still being able to live in your own home is simple and easy. Using the value of your home, the current and historical state of your health and assessing your life expectancy enables you to release cash by taking out an enhanced lifetime mortgage plan to ease your retirement and plan for any long-term health care needs you may encounter further down the line. Your health could have been impaired by any number of conditions you have suffered from in the past or are currently being medicated for. For this reason alone you could now be entitled to an enhanced lifetime mortgage plan.