Partnership has launched a new product offering that is specifically designed for clients who currently have health issues. The product, the Enhanced Lifetime Mortgage, is specifically designed to help clients living with health issues to equity release in their property. The product is currently available to for people aged 60 and over and it offers a larger lump sum than conventional products.
A second aspect of the Partnership product is where a client wishes to provide their family with an inheritance. The product offers an Inheritance Protection facility. This enables the client to protect some of the property’s value and bequeath it to their beneficiaries. If they choose to release less than the maximum monies that are available to them then Partnership guarantee that a percentage of the property’s future value will be unencumbered by the mortgage. This is irrespective of how long the loan is in force.
Both products have a number of key benefits which include:
- No valuation, completion or arrangement fees to be paid
- A minimum loan of only £25,000
- Potential for additional borrowing of greater than £10,000 six months following the inception of the plan
- A fixed rate of interest for the duration of the plan providing stability
- Ability for clients to remain in their own home until either the property is sold or they decide to move into long term residential care.
As with all products covered by the SHIP logo there is a No Negative Equity Guarantee.” This guarantee ensures that the outstanding balance of the plan will never exceed the sale proceeds of the property. This provides comfort that no outstanding debt will have to be met by the family or estate.
So who is Partnership? They are well established and highly respected UK insurer that specialise in the design and manufacture of financial products that help people whose health and lifestyle means their life expectancy could potentially be reduced. They cater for clients across a broad spectrum of health conditions, from the minor issues such as high blood pressure to the more serious such as heart failure, stroke, diabetes, kidney failure and cancer. Their unique underwriting approach reviews every aspect of the potential clients’ health and background with the ultimate goal of delivering the best possible benefits.
The Right Equity Release
4 The Lea, Kidderminster, DY11 6JY
Call : 0800 6125749
E-mail [email protected]
http://www.therightequityrelease.co.uk/
