How Releasing Equity from Your Home Can Benefit Your Quality of Life with Private Medical Treatments

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As we age, our health becomes more of a priority. Private medical treatments can provide quick and
efficient solutions to medical problems, but the costs can be daunting. Many elderly people find
themselves on long waiting lists for the NHS, unable to access the care they need. However, there is
a solution that can help. Releasing equity from your home using a lifetime mortgage can provide the
funds needed to pay for private medical treatments. In this article, we’ll explore the benefits of going
private and how releasing equity can help.

The Benefits of Going Private

The NHS provides excellent care, but waiting lists can be long, especially for non-urgent procedures.
The waiting times can be frustrating, especially when you’re dealing with a health issue that’s
impacting your quality of life. Private healthcare can provide an alternative, offering faster access to
diagnostic tests, treatment, and surgery. It can also provide more personalized care, with shorter
hospital stays and access to specialists.

Private healthcare can be expensive, but the benefits can outweigh the costs. With private
healthcare, you have more control over your treatment and care, and you can choose the best
options for you. You’ll also receive more attention and support, with access to a dedicated care
team.

Popular Surgeries and Procedures for Elderly People

Many elderly people face health issues that require medical intervention. Some of the most common
surgeries and procedures for elderly people include hip replacements, knee replacements, cataract
surgery, and hearing aids.

Hip and knee replacements are common procedures for elderly people who suffer from
osteoarthritis. The NHS waiting list for these procedures can be months or even years long.
However, with private healthcare, you can access these procedures much faster.

Cataract surgery is another common procedure for elderly people. This surgery can significantly
improve vision and quality of life, but waiting lists for this procedure on the NHS can be long. Private
healthcare can provide access to this surgery much faster.

Hearing aids are also essential for many elderly people. The NHS can provide hearing aids, but the
waiting lists can be long. Private healthcare can provide faster access to hearing aids, with
personalized care and support to ensure the best fit and function.

Costs of Private Medical Treatments

Private medical treatments can be expensive, but the benefits can be worth it. The costs of private
healthcare vary depending on the procedure, but it’s essential to consider the long-term benefits
when making a decision.

For example, a quick Google search has found the average cost of a hip replacement surgery is
around £9720 and hip revision surgery £18355, while a knee replacement costs generally hovers
between £10,000 – 11,000, however this can rise to as much as £15,400. For Cataract surgery you
can expect to pay anything between £1,500-4,500 depending on the clinic. The most expensive
cataract surgery costs around £4,500 for a multifocal.

Releasing Equity from Your Home to Pay for Private Medical Treatments

If you’re considering private medical treatments but are worried about the cost, releasing equity
from your home using a lifetime mortgage can provide a solution. A lifetime mortgage allows you to
borrow money against the value of your home, with the loan repaid from the sale of your home
when you pass away or move into long-term care.

Releasing equity from your home can provide the funds needed to pay for private medical
treatments, providing you with the care and treatment you need to improve your quality of life. It
can also provide peace of mind, knowing that you have the funds needed to access the care you
need when you need it.

Conclusion

Private medical treatments can provide faster access to the care and treatment you need, improving
your quality of life and overall wellbeing. However, the cost of private healthcare can be daunting
for many elderly people. Releasing equity from your home using a lifetime mortgage can provide a
solution, allowing you to access the funds needed to pay for private medical treatments.

In conclusion, releasing equity from your home using a lifetime mortgage can provide the funds
needed to access private medical treatments, improving your quality of life and overall wellbeing. It
can provide peace of mind, knowing that you have the funds needed to access the care you need
when you need it. If you’re considering private medical treatments, it’s worth exploring the option of
releasing equity from your home to pay for them.

Before taking out a lifetime mortgage, it’s important to understand the implications of this type of loan and to consult with a financial advisor or a mortgage broker. By doing so, you can make an informed decision that meets the needs of both you and your loved one. At The Mortgage Mum, we understand the importance of finding the right financial solution for you and your family. Our team of experienced Later life Lending Advisers can help you navigate the world of lifetime mortgages and find the right product for your unique needs. Contact us today to learn more.

To get started, simply visit our Later Life Lending Enquiry page and fill out the form. One of our advisers will be in touch shortly to schedule a consultation at a time that suits you.

Find out more about Later Life Lending and contact our Later Life Lending team here.

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