Embracing your client's future with confidence
Nothing is more evocative of stability than the idea of home. Yet, with the current economic uncertainty here in the UK, later-life homeowners may be feeling less stable than they expected. For many, it feels like an anxious time. But it needn’t be this way. Thanks to you and your expertise, more clients can embrace the future with confidence.
Changes such as rising interest rates and higher energy or food bills affect all of us, but those over 55 can face extra worries. They may have bigger, older homes which are harder to heat and less energy efficient. Some may be finding their feet following a divorce or looking to adapt their home for changing mobility needs.
Embracing the future with confidence
Our lifetime mortgage products are designed to help your clients aged 55+ achieve their goals without selling their home. Whether they want to make their terrace house cosy for the coming winter and cheaper to run. Pay for the type of ground-floor adaptations that will allow them greater mobility and comfort around their home in the coming years. Settle in a new apartment following a divorce. Or pay off the capital owing on an earlier home loan.
Our interest rates are fixed for life, offering certainty in uncertain times. And, because we’re always innovating to reflect your clients’ needs, we now offer new levels of flexibility that mean they can stay in control, manage the interest roll-up and preserve as much inheritance as possible for the ones they love.
"Across the later-life-lending space, we see a huge opportunity for innovation, particularly as property wealth becomes increasingly relevant to people’s personal finances and retirement planning." - Andrew Gilbert, Product Director, Legal & General Home Finance, in The Intermediary, July 2023
Helping your clients better manage their mortgage
One of the ways we’re supporting your clients in today’s climate is with more flexible interest-repayment options:
- Your clients can now set up a monthly interest payment from a minimum £25 to the full monthly interest payment amount, with our Optional Payment Lifetime Mortgage. They can end this arrangement at any time and switch to a roll-up product with no penalties.
- Your clients can also now make up to 12 payments a year with our Flexible Lifetime Mortgage, up to 10% of the loan value, without coming up against early repayment charges. They can set up regular standing orders too.
This year we’ve also introduced the following changes:
- We’ve launched a new, lower LTV variant for ages 60+ called Pearl. The product also has a Premier equivalent, which offers the lowest interest rates and the potential for increased borrowing amounts. Read the full details.
- We’ve extended our offer-validity period to 90 days from 50.
- Clients can now draw down £1,000 instead of £2,000 so your clients need only take what they need, as and when they need it.
- We’ve introduced more flexible underwriting for eco-friendly modern properties, we can lend across a range of properties from £70k and above.
Helping you better serve your clients
Your advice and guidance is vital, but we’re always here to help you better serve your clients if you need us.
Our experienced team is at hand to help with complex cases and questions on everything from underwriting to tax guidance to help for vulnerable customers.
Your clients can also get support 24 hours a day, 365 days a year, on our dedicated helpline:
0808 169 9776. Calls may be monitored and recorded.
Our trained team is available to talk with them confidentially about everything from financial concerns to family stresses and mental health, so do pass on the details if you think they could be helpful.