New Life has improved its Lifetime Fix and Lifetime Gold mortgage products.

Its Lifetime Fix product, for those wanting a cash lump sum, will come with a cashback offer of £600 to the customer for completions with funds released on or before 29 December 2010. The deal, is available for both single and joint lives at 6.35% monthly (6.54% annual). LTVs start from 17% at age 55.

With its Gold maximum lump sum product, New Life is offering a £300 cashback (with the same deadline as above). It is available for single lives at 6.75% monthly (6.96% annual) – LTVs starting from 20% at age 55.

Peter Lucas, chief executive of New Life, said: “We have always been committed to providing our customers and intermediaries with not only exceptional products but also excellent personal service. We are therefore delighted to enhance our Lifetime Mortgage offering to such an extent that this product suite is amongst the most competitive in the market.