Legal & General Home Finance adds low LTV variants to lifetime mortgage range

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Legal & General Home Finance has revised its lifetime mortgage range following adviser feedback.

These changes include the launch of new Pearl product variants to both its Flexible and Optional Payment lifetime mortgages, with lower LTVs and interest rates than are available from its current product range.

The Pearl product will also have a Premier equivalent, which offers the lowest interest rates and the potential for increased borrowing amounts.

The changes follow Legal & General Home Finance’s decision to allow new Flexible lifetime mortgage customers to make up to 12 repayments each year, up from four, and make repayments by Standing Order.

Legal & General Home Finance also recently launched a series of new features and product developments, including an extension of the Offer Validity period to 90 days to add an extra layer of reassurance to customers, and a reduction to the minimum drawdown amount to £1,000 to provide further flexibility.

Craig Brown, CEO, Legal & General Home Finance, said: “We are constantly looking at ways to innovate and drive good customer outcomes for people looking to benefit from accessing their property wealth. These improvements to our later life lending range are in direct response to adviser feedback and reflect customer needs in this fast-paced market.”

 

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