With a lifetime
mortgage, you raise a
mortgage against the
equity in your property,
with the size of the
mortgage you can raise
being dependent on your
life expectancy which
can be gauged according
to your age, sex and
state of health.
To
put it bluntly, the
older you are and the
worse your state of
health at the outset,
the higher the
percentage of the
property’s value you can
borrow because the
lender expects to get
its money back sooner!
