The brand is funded by Standard Life, with products designed and provided by Key Group. Its new ‘Horizon’ range of products includes drawdown and lump sum options, and has been awarded a five star rating by independent financial services researcher Defaqto.
Rates on the Horizon range start at 3.28 per cent APR, with loan amounts typically between £10,000 and £1.5m. However, higher value cases will be considered based on their merits.
Partial payments of up to 10 per cent of the initial loan amount can be made each year without incurring early repayment charges (ERCs), while customers will not be liable to pay an ERC if they move into a property that does not meet the underwriting criteria or if a partner dies or moves into long-term care.
Inheritance protection is available, alongside the no-negative equity guarantee.
Tom Ground, managing director of retirement solutions at Standard Life, noted that the needs of older people were changing, which means it is important to deliver flexible, good value products which do not penalise borrowers if their circumstances change through no fault of their own.
He continued: “We are especially proud that the Horizon range has secured a five star rating from Defaqto and are confident that with the Standard Life name, innovative approach to early repayment charges and competitive rates, advisers will find that these products meet a wide range of customer needs.”