Enhanced Equity Release

How to use the enhanced equity release calculator

To get an estimate of the maximum you could borrow with an an enhanced lifetime mortgage, simply input:

• the value of your property (which must be a minimum of £70,000 and in the UK)
• the age of the youngest homeowner (which must be at least 55)
• your postcode

This is the criteria that lenders use when deciding how much money you can borrow.

Our enhanced lifetime mortgage calculator makes the assumption of worst-case scenario with regards to your health - in order to provide the maximum enhanced release possible.

To gain an accurate estimation of the amount of equity you could release, either contact a local equity release adviser, or use our intelligent smartER research tool.

An introduction to enhanced lifetime mortgages

Facts show that health conditions tend to increase as we grow older. For this reason, a history of ill-health could actually be beneficial if you’re planning to use equity release to help supplement your retirement income, repay a mortgage or pay for big ticket items such as home improvements and adaptations.

Having health conditions could allow you to release more money. Life expectancy can also be used to determine the size of your equity release. Alternatively, an enhanced plan could reduce the rate of interest you are offered on some other plans.

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 may be managed with prescription medication through to serious illnesses.

Lifestyle choices, such as smoking or having a high body mass index (BMI) may also mean you qualify for enhanced plans. Lenders will assess the maximum equity release possible by asking you to complete a Health and Lifestyle questionnaire - as well as writing to your doctor for confirmation of your health.

Want to compare enhanced lifetime mortgages?

You can research the full range of enhanced/ill health lifetime mortgages currently available using our ‘Compare Deals’ functionality – a tool only available at Equity Release Supermarket.

You’ll be able to see interest rates for each plan, as well as features and offers from all lenders across the market. Alternatively, try our free intelligent smartER research tool which allows you to conduct your own research on enhanced plans from across the whole later life market.

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.