More2Life Enhanced Lifetime Mortgage

Tailored Choice Plan
  • Rate: 5.90%
    APR: 6.22%
    Exclusive: Yes
    Offers: Cashback | Free Valuation | Medically Underwritten Loans | Enhanced Drawdown Facility | Guaranteed Inheritance Feature

More2Life is a lender that offers several different retirement plans and solutions to those homeowners who are over the age of 55. The Enhanced Lifetime Mortgage offered by More2Life is specially designed for those homeowners who have certain health and lifestyle conditions.

The Enhanced Lifetime Mortgage takes several factors into consideration including property value, age, health conditions and ailments, and lifestyle choices. For those homeowners who do have certain health conditions, there may be the ability to release even more money than is allowed with a traditional lifetime mortgage.

There are a number of unique features to the Enhanced Plan offered by More2Life. These features include:

• No medical exams required
• Factors in lifestyle choices and health conditions to allow for more cash to be released
• No monthly repayments required
• Cash reserve available in the event that the homeowner needs to release more money in the future
• The loan, along with any accrued interest, isn’t due until the home is sold. This typically takes place when the homeowner has passed away or has entered into long term care.
• There is a safeguard for a potential inheritance, known as a Protected Equity Guarantee. This allows homeowners to leave behind an inheritance, even after taking advantage of the lifetime mortgage scheme.
• Instant underwriting by use of the more2life website & quote facility

The Enhanced Lifetime Mortgage is available for homeowners with several different health conditions or lifestyle choices including:

• Diabetes
• Obesity
• Smoking
• High Blood Pressure
• Heart attack/angina
For the most part, the more serious the condition the more money the homeowner is able to release.

Documenting health conditions and lifestyle choices can be fairly straightforward and does not require any medical examinations. Instead, the homeowner must answer a series of questions that includes basic information about the applicable conditions. After the questions are answered, the homeowner is given a medical underwriting reference number automatically. When the case is sent to More2Life this reference number must be included. This questionnaire is one of the main ways in which homeowners can qualify for the Enhanced plan. The questions are straightforward and fairly easy and all can be responded with using a simple yes or no.

By taking advantage of the Enhanced Plan, homeowners are able to take advantage of releasing more cash by simply disclosing their health conditions and lifestyle choices. By doing so, they can use the extra cash received to enjoy a fuller and more enjoyable retirement. And even with the use of the product, there is still the potential to save some form of inheritance for their beneficiaries.

The more2life enhanced lifetime mortgage plan is currently the ONLY drawdown equity release scheme that offers an enhanced drawdown facility. Therefore, should health be qualified for enhancement then more2life offer an enhanced drawdown reserve facility. This will provide an even greater size cash facility than any standard equity release plan. Ideal for over 55’s requiring security of having the maximum cash reserve facility to take through their retirement.