Enhancement for Scots equity release

EQUITY release plans for older homeowners with medical conditions will more widely available in Scotland, under a launch announced today.

Enhanced equity release allows those with health issues or lifestyles that could affect their longevity to unlock cash from their homes. The plans now account for one in ten equity release schemes taken out in the UK and specialist lender More 2 Life, the first company to offer them, is expanding into Scotland. It will offer loan rates between 6.99 and 7.49 per cent on properties from £70,000 and enable borrowers to protect some equity for beneficiaries. The products are available through Key Retirement Solutions.

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