Just Retirement is a leader in financial products and services particularly in the lifetime mortgage & annuities industry. They provide a variety of enhanced annuities and equity release schemes to fulfil UK resident needs.

The Just Retirement Lump Sum Plus plan is an enhanced equity release scheme offered to those with poor health and already at reached the age of 60. The product is regulated by the Financial Conduct Authority and Just Retirement is a member of the Equity Release Council adhering to their code of conduct. The Lump Sum Plus plan is designed for homeowners with an impaired life expectancy. This may be due to one or more conditions that are chronic health problems or it may be a new condition found by medical professionals.

The amount of money released to the homeowner is based on the health condition or conditions the homeowner suffers from. There are two ways to access this plan: single lump sum payment which offers a higher maximum equity release lump sum than their standard plan & a higher interest rate. Or if ill-health persists, then following completion of the Just Retirement health & lifestyle questionnaire applicants would qualify for an even higher enhanced lump sum.

The Qualification Process
Just Retirements Lump Sum Plus plan begins at the age of 60 for homeowners in retirement looking to secure the Just Retirement Lump Sum Plus mortgage. A homeowner will need to fill out the health and lifestyle questionnaire to qualify. Conditions need to be chronic and effectively they will affect the life span of the homeowner, thus shortening the term of this enhanced equity release mortgage.

Additionally to qualify, the home needs to be worth a minimum of £70,000. The home has to be located in England, Wales or Scotland to qualify as well.

Key Features of the Just Retirement Enhanced Plan
Whether a homeowner is taking the lump sum, or lump sum plus, the minimum withdrawal limit is set at £10,000. It is possible to take more from the equity in the home if the property value supports it.

The single lump sum equity release will have a fixed interest rate for life. This interest compounds on to the back of the loan starting from the beginning of the loan. Just Retirement does not offer any early repayment feature and any repayment made before end of life could be subject to early repayment charges. The early repayment charge is based on a fair percentage of repayment that accounts for any loss of return on investment Just Retirement would have earned & is linked to the FTSE UK Gilts 15 Year Yield Index.

Incentives to Choose Just Retirement Plan
Just Retirement offers a free valuation for their enhanced lump sum max plan which is unlimited in valuation.