Page 9 - The Equity Release Guide 2020

Enhanced Lifetime Mortgage
These plans are like the standard lifetime mortgages but are tailored for people who have existing health conditions - in some cases these policies have a higher release value than other plans on the market. Conditions that might mean you qualify for this product include, diabetes, heart problems, cancer, etc. Our expert advisors can talk you through the questions to see if you qualify for an enhanced plan.
Inheritance Protection
You can guarantee an inheritance for your loved ones by ring-fencing a proportion of your property value with a protected Lifetime Mortgage. This allows you to guarantee that a percentage of the future value of your home will be left to your family when the property is sold, regardless of how much interest accrues.
Partial Repayment Plans
Also known as a voluntary payment plan, these plans offer you the option some off the initial loan amount a year. These vollenterry ad-hoc payments can reduce the size of the loan, and the interest that comes with it.
Buy-to-let Lifetime Mortgage
Buy-to-let equity release helps landlords over the age of 55 release equity that’s tied up in their property portfolio, without having to sell it. This product is available on a home you own but don't live in, a buy-to-let property is one that is defined as, not occupied by the owner and must be let-out under an Assured Shorthold Tenancy Agreement. Multiple properties can be used with more than one landlord buy-to-let plan.
Home reversion plan
This is the oldest style of Equity Release products on the market (which is sometimes known as A lifetime lease) and is one of the least used products on the market today. It is very limited and suits very few people and their circumstances. With a home reversion plan you sell part or all of your property to a dedicated reversion company for a cash lump sum, there is no interest to pay and you live in your home free of charge for as long as you live. When the plan comes to an end the provider sells the property and takes their percentage first. For these plans you need to be over 65. You often get a lower level of Equity Release as they often offer a lower than market value price for your home.