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Enhanced Lifetime Mortgage

Enhanced Lifetime Mortgage

An increasingly popular form of a lifetime mortgage plan, an enhanced plan simply enables you to release extra funds based on your lifestyle and health conditions.

How is this lifetime mortgage plan different?


Enhanced plans are available as either roll-up cash lump sum lifetime mortgages or roll-up drawdown lifetime mortgages. The only difference is that the lender is happy to offer more cash or a larger drawdown facility based on your answers to some health and lifestyle questions. In most circumstances you will not need to undergo a medical and the usual safeguards and guarantees are in place.

Will I qualify for an enhanced lifetime mortgage plan?


It is estimated that up to 60% of all customers might qualify for an enhanced plan.
It's not just serious illnesses and conditions that are accepted, you could qualify for the enhancement simply if you smoke or if you are overweight. Common conditions such as asthma, high blood pressure and angina are also accepted. ERIC recommends that if you are on any kind of medication it is worth speaking to our expert Advisers on 0800 077 6885 to see if we can secure you additional funds.

Max's Enhanced Roll-Up Lifetime Mortgage Plan

Max is 65 and lives in a £200,000 property. He smokes around 20 cigarettes a day. He was able to take a lump sum of £66,000 on his property and pay off his outstanding mortgage which freed up his pension for everyday living expenses. If Max had taken a non-enhanced lifetime mortgage the maximum available would have been £58,000.

Kevin's Enhanced Roll-Up Lifetime Mortgage Plan

Kevin retired early at 60 after a stroke and other health problems. In order to make ends meet until he was able to claim his pension he released £84,700 from his £200,000 home. This enabled him to get the care he needed in his own home. If Kevin had taken a non-enhanced plan he would have only be able to draw upon £49,000.

Alan's Enhanced Drawdown Lifetime Mortgage Plan

Alan is a 65 year old smoker who suffers from high blood pressure and diabetes. He lives in a £200,000 property and needed £15,000 for a new car, plus the option of further funds in later years. On a regular lifetime mortgage Alan was able to take the £15,000 lump sum and have an available drawdown facility of £53,000. On an enhanced plan he secured a drawdown facility of £58,000.

Looking at these examples you can see how choosing the right plan can make a difference of thousands of pounds. To make sure you are choosing from all the available plans on the market, speak to our specialist team on 0800 077 6885. To find out how much you could raise, try our online equity release calculator.