The products all sit under the lender’s Horizon offering.
Newly-launched products include the Horizon 240, 260 and 280 with monthly equivalent rates (MERs) beginning from 5.96 per cent, 6.01 per cent and 6.06 per cent respectively for fee-paying lump sum and drawdown plans.
Pricing starts from 6.01 per cent, 6.06 per cent and 6.11 per cent MER for fee-free alternatives.
Standard Life Home Finance has re-added Horizon 500, 550 and 600 to the line, bringing the total number of lifetime mortgages to 10.
Across these products, fee-free MERs begin from 6.58 per cent, 6.72 per cent and 6.77 per cent respectively. Fee-paying options start at MERs of 6.53 per cent, 6.67 per cent and 6.72 per cent respectively.
The products are available to homeowners aged between 55 and 84 with a loan to value (LTV) up to 50 per cent for older borrowers.
Loan values range from £10,000 to £1.5m for properties valued between £99,000 and £5.1m.
Partial capital repayments are permitted from day one, there are fixed early repayment charges (ERCs) for eight years and downsizing protection is available from the day the loan completes.
There is also an unrestricted ERC exemption on the death or long-term care admission of the first borrower.
Standard Life: ‘Not resting on our laurels’
Kay Westgarth (pictured), sales director at Standard Life Home Finance, said: “As the impact of the mini Budget starts to recede, we are delighted to be able to launch three new lifetime mortgage products to our Horizon range, as well as relaunch three of our previous lifetime mortgage products.
“While we’ve had a good start to the year, we do not intend to rest on our laurels and are constantly looking to improve our service, from the products we offer to how we underwrite them.
“This launch is a great step forward and reinforces our commitment to the equity release market, providing customers with a life of possibilities while focusing on innovative support for the advisers that we work with.”
