The More2Life Tailored Choice Plan is specifically designed for homeowners looking for the maximum lump sum and/or maximum cash reserve facility, based on health and lifestyle by checking the medical records of the homeowner. These impaired lifetime features can be then combined with the flexibility of a drawdown facility to provide an enhanced drawdown plan offering a higher loan amount than standard terms.
Therefore, qualification for this enhanced lifetime mortgage will be for conditions such as: -
The minimum property valuation applicable to this More2Life Tailored Choice Mortgage is £70,000 with no maximum upper property valuation. However, please contact us directly on properties over £1m as More2Life may impose restrictions on certain properties over this value. (contact us on 0800 678 5955, if valuation is higher).
Property location - which must be the homeowners main residence, needs to be located within England, Wales and mainland Scotland.
More2Life's Enhanced Equity Release scheme is available on both a single and joint life basis with a minimum age of youngest homeowner being 55 and has no upper age limit. Although the minimum age is 55, to qualify the equivalent underwritten rated age must reach 60 for single applications and 65 for joint applications.
As the plan requires poor health for enhanced terms, More2Life require details of ailments to be submitted by the homeowner upon application. To qualify for enhanced terms the youngest homeowner will need to meet certain health and lifestyle criteria.
- lifestyle reasons - such as are you a smoker? have you retired early due to ill-health? height & weight - body mass index (BMI) can affect your loan size
- health reasons - such as being diagnosed with cancer, diabetes, heart attack, angina, stroke, high blood pressure, Parkinson's, Alzheimer's plus additional conditions. Please contact us on 0800 678 5955 for a full list of definitions.
The minimum release on this More2Life plan is £10,000 with a maximum loan limited being £600,000 in England & £250,000 in Scotland and Wales. For loans greater than this, bespoke quotations are available via Equity Release Supermarket. Please call 0800 678 5955 for your personalised Key Facts Illustration.