Legal and General (L&G) Home Finance has added low loan to value (LTV) options to its later life mortgage products.
These are available within its flexible and optional payment lifetime mortgages and will also offer lower rates compared to its current range.
The new ‘Pearl’ bands offer LTVs from five per cent at age 60.
There will also be a ‘Pearl’ option within its Premier range of products which offer reduced interest rates and potentially larger borrowing amounts.
This change follows the lender’s decision to allow new flexible lifetime mortgage borrowers to make up to 12 repayments each year instead of the previous four, and make repayments by standing order.
Craig Brown (pictured), CEO of Legal and 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.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
