According to Key, a number of specialist equity release providers will give retirees suffering from conditions including diabetes or a heart condition preferential terms on their products, specifically the facility to release greater sums of money from their home.
The nature of the health problem - including severity, length of condition and the type of treatment being received - may affect the amount that can be released and all that is needed from the homeowner is confirmation from their GP, as opposed to a formal medical examination.
Dean Mirfin, business development director at Key Retirement Solutions said the benefits of such enhanced products served to further highlight the need for specialist equity release advice.
He added: “Health is a sensitive issue for many, but when considering equity release it is vital that retirees are open and honest about any condition or medication they are taking, as this will ensure their financial advisor is adequately informed to give the best possible advice.”
Conditions that will be considered include heart attack, diabetes, cancer, stroke, chronic respiratory disease, kidney or liver disease, multiple sclerosis, Alzheimer's and high blood pressure/cholesterol.
