Enhanced lifetime mortgage calculator
Facts show that the number of health conditions increase as we grow older. For this reason, ironically a history of ill-health could actually be beneficial if you’re planning to use equity release to help supplement your retirement income, or pay for big ticket items such as home improvements and adaptations.
Simply because having health conditions could allow you to release more money. Using similar underwriting as annuities, life expectancy can also be used to determine the size of your equity release.
Enhanced (or ill health) plans are only available if you have one or more of a range of health or lifestyle conditions. These vary from ones that you may be managing with prescription medication through to serious illnesses.
Making lifestyle choices, such as smoking or having a high body mass index also qualify.
How much money could I release?
To get an idea of how much money you could release with our enhanced plan calculator, we only need a couple of details as these are the basic criteria lenders use. These are -
- The age of the youngest homeowner (who must be at least 55).
- The estimated value of your property (which must be a minimum of £70,000 and in the UK).
- Your postcode.
Your results are shown instantly all within an easy to read table.
We’ve also included the amount you could release compared with a ‘standard’ plan, so that you can see how much more money could be available to you through an enhanced plan.
Want to compare enhanced lifetime mortgages?
If you’d like to research the range of enhanced lifetime mortgages that are currently available, then feel free to use our ‘Compare Deals’ functionality which is only available at Equity Release Supermarket.
You’ll be able to see the plan interest rates, along with their features and any offers from all the lenders across the equity release marketplace.
The Enhanced Lifetime Mortgage results shown in your calculation are only for illustrative purposes and cannot be guaranteed. This is because interest rates are subject to change and can depend on your location, health and the amount of capital you need to fulfil your personal circumstances. To understand the features, benefits and risks of a lifetime mortgage, please contact us and ask for your own individual, personalised illustration.