Partnership - Enhanced Lifetime Mortgage
Scheme Name: Partnership - Enhanced Lifetime Mortgage
Interest Rate: 7.45%
APR: 7.50%
Exclusive Deal: |
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Features |
FREE valuation | NO application or completion fees | £500 cashback |
Full details: |
Partnership are one of the longest established UK provider of specialist financial products for people whose health & lifestyle result in their life expectancy to be reduced.
Predominantly offering impaired life annuity's, Partnership now bring their underwriting experience & knowledge to the maximum release end of the equity release market. Their Enhanced Lifetime Mortgage plan is built around a health questionnaire which seeks minor conditions such as blood pressure, through to more serious illnesses such as heart failure, stroke & cancer. Dependent upon the severity, the illnesses will determine the size of the equity release mortgage. Partnership are Equity Release Council (formerly SHIP) members; thus bring associated, protection features such as security of tenure, the right to move to another suitable property & the no negative equity guarantee are inclusive. Additionally, they also included an Inheritance Protection feature which enables a guaranteed part of the eventual sale of the property to be left to the beneficiaries. The Enhanced Lifetime Mortgage plan starts at age 60 & is currently available only in England & Wales. The minimum property value is £75,000, with a minimum release of £25,000. The initial offering allows FREE entry onto the scheme as Partnership offer a FREE valuation, NO application or completion fee & £500 cashback, thus resulting in much lower set up costs. |