More2Life – Enhanced Lifetime Mortgage

More2Life is a lender that strives to create innovative lifetime mortgage schemes that work to the benefit of homeowners. By taking into account the lifestyle choices and health conditions of homeowners, More2Life is able to provide a unique lifetime mortgage option through its Enhanced Lifetime Mortgage.

With the Enhanced Lifetime Mortgage, More2Life takes into account several features including:
• Gender
• Age
• Lifestyle
• Health
• Property Value

In order to qualify for this particular product, homeowners must answer a series of fairly simple and straightforward questions to help identify certain health conditions and lifestyle choices. The idea behind the Enhanced version of this product is that it allows for a higher cash release for those homeowners who have shortened life expectancies due to certain health or lifestyle conditions. The questionnaire aims to uncover those conditions.

There are several identifying features to this product, including the following:
• No monthly repayments. Homeowners are not required to make regular or monthly payments on the balance of their loan.
• Health conditions and lifestyle choices. These can be taken into account which can mean that more funds are available for release due to poor health.
• No negative equity. This is a guarantee made by More2Life. It essentially means that if the home is eventually sold for less than the amount of money owed on the loan, More2Life will not hold the estate in the negative, provided the home was sold for a reasonable amount. That means that no homeowner will end up owing more than the home is actually worth.
• Future borrowing. There is an option to borrow more in the future, should the homeowner need to do so. This future borrowing would be contingent on the lending criteria at the time.

The Enhanced Lifetime Mortgage offered by More2Life is the ideal solution for those homeowners who suffer from medical or health conditions that may shorten their lifetime. Because of those conditions, homeowners can qualify for higher releases of cash, which means that they are able to best enjoy their retirement years and are able to stay living in their home either until they move into permanent long term care or pass away. There are no monthly payments required and the loan is not due until the home is sold. This product even allows a safeguard to ensure that some inheritance is left behind to beneficiaries. So, not only is it possible to release more money up front but there is also a provision to save a share of the home for loved ones.