News - Lenders
Mortgage Solutions | 04 Jan 2012 | 09:46
Equity release lender LV= has announced a rate cut on its lifetime and flexible lifetime mortgages.
The interest rate on LV='s lifetime mortgage for customers up to 80 years old will fall from 6.59% to 6.49% AER from 3 January 2011.
The equity release lender is also offering a new rate of 6.69%, from 6.79% AER for the same age range on its flexible lifetime mortgage.
Vanessa Owen, LV= head of equity release, said: "IFAs have previously indicated that customers found the guaranteed features of our equity release products, such as clearly defined early repayment charges, really attractive. I am confident that this combined with our new lower rates makes our equity release product an even stronger offering for advisers and their clients."
All applications in the pipeline will automatically be offered a mortgage at the new rate, confirmed LV=.
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