More2Life are equity release lending specialists borne from the specialist lending arm of Key Retirement. Using external funding models, More2Life offer a range of bespoke lifetime mortgage deals to homeowners over the age of 55. The More2Life Tailored Choice Enhanced Lifetime Mortgage Plan is backed by annuity and lifetime mortgage specialists Partnership.
The More2Life Tailored Choice Equity Release Mortgage offers an Enhanced Lifetime Mortgage plan which takes health and lifestyle into consideration to gauge the maximum loan size available to the homeowners.
The More2Life Tailored Choice Plan is specifically designed for homeowners looking for the maximum lump sum possible based on health and lifestyle by checking the medical records of the homeowner. These impaired lifetime features can provide an enhanced plan offering a higher maximum equity release loan amount than the standard plan offers.
The minimum property valuation applicable to this More2Life Tailored Choice Enhanced Mortgage is just £70,000 with no maximum upper property valuation. However, please contact us directly on properties over £1 million as More2Life may impose restrictions on certain properties over this value.
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 no upper age limit.
As the plan requires poor health for qualification, then 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.
Qualification for this enhanced lifetime mortgage will be for conditions such as: –
– lifestyle reasons
such as – are you a smoker? have you retired early due to ill-health?
– health reasons
such as – diagnosed with cancer, diabetes, heart attack, angina, stroke, high blood pressure, Parkinson’s, Alzheimer’s plus additional conditions. Please contact us for a full list of impaired life definitions.
The minimum release on this More2Life plan is £10,000 with a maximum loan limited being £600,000 in England, whilst £250,000 in Wales & Scotland. For loans greater than this, bespoke quotations are available via Equity Release Supermarket. Please call 0800 678 5955
for your personalised Key Facts Illustration.
The More2Life Tailored Choice Enhanced scheme provides the homeowner with a calculation of the maximum lump sum based on their health, both past and present. From this enhanced equity release calculation an initial tax-free lump sum cash amount is released for immediate use.
The size of the lump sum facility is directly related to the health and lifestyle of the individual. Therefore, the worse the medical condition(s), the potentially higher the loan amount will be made available.
A generous free valuation is offered along with a fixed equity release lifetime interest rate on the lump sum. Any additional borrowing that may be taken in the future would be at the interest rate applicable at the time of withdrawal.
More2Life are members of the Equity Release Council all their plans come with a no-negative equity guarantee. Therefore, when the home is eventually sold, any beneficiaries cannot be left with a debt owing to the equity release lender.
This More2Life Enhanced Lifetime Mortgage enables any homeowner to spend their tax-free cash as they wish, with no requirements to making any repayments.
As part of the Tailored Choice Flexi Options, More2Life offer a series of cashbacks which the homeowner can chose from. They are subject to regular changes, hence please call 0800 678 5955
for upto date information on availability.
A further option for inclusion is the Guaranteed Inheritance Feature which provides an option for the homeowner to secure a fixed percentage of the final sale value of the property to their beneficiaries. This is important for those who wish to guarantee a percentage of the house value from their inheritance.
This More2Life Lifetime Mortgage Plan comes with the option to include enhanced terms dependent upon the health conditions of the homeowners. Therefore, if poor health can be evidenced then more favourable terms can be offered by way of a higher maximum equity release loan amount which would be larger than any standard terms.
*Cashbacks are subject to lender availability, so please check with the Equity Release Supermarket team.
**Rates are dependent upon age
To obtain further information or to request a quotation on the More2Life Tailored Choice Enhanced Lifetime Mortgage, please contact the Equity Release Supermarket team on 0800 678 5955