By June 17, 2013 Read More →

LV= cuts rates on its Lifetime Mortgage product

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The interest rates across LV=’s lifetime mortgage have been cut by 20 basis points.

 For customers up to 80 years old the interest rate is now 5.79% AER, with those between 81 and 85 years old receiving a rate of 5.99% AER. See table below for full list of new rates.

  Lifetime mortgage (lump sum)
Age band New rate (AER) Old rate (AER)
60 – 80 5.79% 5.99%
81 – 85 5.89% 6.09%
86 – 95 5.99% 6.19%

 

 

 

 

 

 

LV=’s Head of Annuities and Equity Release, Vanessa Owen, said:

“Demand for equity release has risen considerably over the last twelve months, and the majority of advisers predict that it is soon to become a mainstream financial product.

“We believe that the combination of lower rates and our product guarantees, such as defined early repayment charges, makes LV=’s lump sum lifetime mortgage a very strong offering in the market.”

Posted in: Mortgages

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