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Partnership launches enhanced equity release product

Partnership has launched an enhanced equity release product aimed at homeowners with health or lifestyle issues.

The enhanced lifetime mortgage offers increased benefits to people with long-term illnesses such as diabetes and cancer. Smokers will also be able to secure improved terms.

The product is available to property owners aged 60 and over whose property is worth at least £70,000, with a minimum cash release for the mortgage of £25,000.

Customer will need to complete a short online questionnaire to confirm they are eligible for the product.

Partnership managing director of equity release Ged Hosty says: “Equity release provides a much needed source of income for people in retirement who find themselves without adequate pension provision but have substantial equity in their properties.

“We have refined this concept to benefit people with compromised health conditions.”

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