Just Retirement have been providing equity release plans for over seven years and are now offering their Just Retirement Lump Sum Plus Plan for those who are looking to maximise the value of their home and use that value to enhance retirement.
There are two ways in which people can raise a much-needed lump sum:
- Standard Plan – this offers a larger lump sum than a standard roll-up lifetime guarantee mortgage
- Enhanced Plan – increased cash lump sum based on life expectancy due to impaired health reductions and reduced life expectancy.
Whatever financial reason you may have to want to draw down the value of your home as a tax free lump sum, a Just Retired Lump Sum Plus plan has a range of features and benefits that are comparable and favourable against other providers on the market.
Eligibility for the enhanced plan is based on your health and works on the health conditions you are being medicated for and medical history of conditions that are chronic. You may have had a stroke in previous years or have previously suffered a cancer where you received treatment such as chemotherapy or radiation. You could have a simple age-related condition such as Type 2 diabetes and take insulin tablets. Answering yes to one or more of the lifestyle and simple medical questions could qualify you for an enhanced plan and an increased amount of money as a lump sum.
Added features of the Just Retirement Lump Sum Plus plan include a free house valuation offer and a fixed interest rate starting at 6.75% which means you will know exactly how much you will have to repay on your death or if you have to go into residential care. There are joint plans available too; also as long as both you and your spouse or partner meets the minimum age requirements and your home is over the valuation threshold limit.
The minimum age for the Just Retirement Lump Sum Plus Plan is 60 and your home must have a current market value of £70,000 or more. The minimum lump sum withdrawal is £10,000. Allow Just Retirement to handle your lump sum requirements and make the most of the value of your home.
