equity release - lifetime mortgage

mb2011

Hi

Does anyone have experience to share of taking out a lifetime mortgage to buy a house?
We have sold our house and are taking out an equity release lifetime mortgage to help buy our next home.

Our concerns are how much we will be restricted in what we can do with the house by the lender ( subject to planning permission of course) . We understand that with a mortgage there are restrictions such as applying for permission from the lender to alter the property – but there is no advice I can find as to whether these equity release lenders are inclined to agree to alterations or not. And will they be inspecting the property on a regular basis? In short, how hands-on are the lenders when it comes to altering/maintaining the property?

We would like to: convert the garage into a living room
Add folding doors from the back room into the garden
Add a conservatory onto the back of the house
Create another room in the attic

Thanks

Thanks