The increases range from 3% for lifestyle impaired borrowers, for example smokers, to around 20% for heavy health impairment which would include people with co-morbidity such as high blood pressure and diabetes.
Ged Hosty, managing director, equity release, at Partnership, said: “For many clients the main challenge with equity release is raising sufficient funds to meet their needs.
“Our enhanced lifetime mortgage already provides higher loans than standard schemes but these additional amounts can make a meaningful difference, perhaps £10,000 or £20,000 on a typical property.
“And with Partnership’s “free to entry” structure, customers won’t have to spend any of the funds raised on a provider’s fees.”
