06 April 2020

COVID-19 update: Legal & General Home Finance – Lifetime Mortgages

A message to all our customers – last updated 3rd June 2020.

To protect our people and our customers from COVID-19, we're following guidance from the UK Government. We're still here to help and we'll do all we can to minimise disruption, but some of our services might be reduced at times.

Our phone lines are busier than usual but we are still open for people looking for a lifetime mortgage and any existing customers.

New customers applying for a lifetime mortgage

We're continuing to accept new applications, but this will take longer than normal and there may be instances where we aren't able to complete applications due to temporary changes in our process. Please bear with us and accept our apologies for any inconvenience this may cause. Thank you for your understanding and patience. Latest updates to our service:

  • For many customers the legal conveyancing will be delayed. This depends on the processes your solicitor is now following. You’ll need to speak to your solicitor about this.
  • We’re very sorry, but due to the disruption in service at the Registers of Scotland, we’re currently unable to complete any cases in Scotland. We’ll update this page when this situation changes.

Update to valuation process

Our number one priority is your health and safety and that of the valuers who visit your home. That is why we will arrange for an independent valuation of your home. The surveyor will call you to complete a questionnaire & understand whether it's more appropriate for a valuer to visit your property in person, or value it using publicly available information without the need to enter your home (a desktop valuation),.

If a desktop valuation is the most appropriate option, this will be completed by an independent valuer using publicly available information to assess the value of your home. This includes getting details about your property from the Land Registry and using online information to review any previous sales history. The final valuation figure will also consider the actual sale prices of similar properties in your area.

Because a desktop valuation may provide us with less information than a valuer visiting your property, we will use 95% of the desktop valuation when we calculate the amount we can lend to you.

If everything is acceptable to us, we’ll send you your Offer of Loan and the application process will continue.

Your financial adviser will be able to provide more information on the options available.