New lifetime mortgage launched for people with medical problems

Partnership Assurance, a provider of ill-health retirement and care solutions has announced the launch of a fully underwritten lifetime mortgage for people suffering from medical complaints, which it has said it believes to be the UK’s first product of its kind.

 

Available exclusively through financial advisers, the product, offered in association with New Life Mortgages, is specifically designed for people who have a reduced life expectancy, and offers more cash as a result.

 

Commenting, Steve Groves, managing director of Partnership Assurance says: “As the UK’s leading provider of care and retirement solutions for people suffering health conditions, we are delighted to be able to offer advisers and consumers access to the first fully underwritten lifetime mortgage product that will not penalise home owners with a shorter life expectancy.”