Just Retirement - Lump Sum Plus
Roll up Lifetime Mortgage

Scheme Name: Just Retirement - Lump Sum Plus
Interest Rate: 5.40%
APR: 5.50%

Incentive Deal:



FREE Valuation Offer* | Medically Underwritten Loans | Cashback Option** | NO Set Up fee | 10%pa Voluntary Payment Option | Tiered Rates Based On Age***

Full details:

Just Retirement are specialists in retirement solutions and are one of the longest serving members in the current crop of equity release providers.

The Just Retirement Lump Sum Plus Lifetime Mortgage plan aims to offer a greater lump sum by way of two options: -

1. Standard Plan - provides a larger lump sum than the basic roll-up lifetime mortgage
2. Enhanced Plan - by taking health into account underwriters can assess whether a higher amount can be released

This is particularly beneficial for those who simply want the maximum equity release possible. This could be for severe health reasons, or simply because their financial situation necessitates this higher amount.

Beneficiaries of these maximum equity release schemes recently have been people tied into interest only mortgages & no repayment vehicle in place. The Just Retirement Lump Sum Plus plans, with higher loan-to-values & medically enhanced limits, can help remortgage away from mainstream lenders, should homeowners not wish to downsize.

Just Retirement Lifetime Mortgage Plans start at age 55 & there is a minimum property value of £70,000 with a £10,000 minimum initial withdrawal limit.

The interest rate on the initial cash withdrawal is fixed,and will be determined by which product you are eligible for.

To qualify for the enhanced version of the Enhanced Lifetime Mortgage plan, Just Retirement will require a health & lifestyle questionnaire to be completed which asks questions with regards to past medical records. If evidence of ill-health is proven, then the more sever the condition, the greater the lump sum becomes available.

Both the Standard and Enhanced products are available in England, Wales and Scotland.

Additional features added to all Just Retirement plans wef 27th March 2017 are the Voluntary Partial Payment Option & an early repayment charge option after 3 years.

The Partial Repayment Option allows the homeowner to make ad-hoc payments back to Just Retirement of upto 10% of the original amount borrowed, with NO penalty. This helps the homeowner control the future balance of the plan and the inheritance they leave behind if this is a concern to them.

The second addition applies to joint plans where one partner dies or moves into care. The survivor then has a three year window during which they can elect to repay the equity release mortgage with NO penalty.

*FREE valuation applies to ALL properties (no upper limit)
**Cashback option upto £2,000 subject to age & loan amount
***Interest rates are tiered and dependent upon age of the homeowner.

Please contact the Equity Release Supermarket team for the latest Just Retirement equity release offers, or request a personalised illustration on 0800 678 5159.