The new rules extend protection to mandatory payment lifetime mortgages and all advice conversations must now cover income and expenditure.
Related topic: Later Life
The later life lender recently appointed Les Pick as director of intermediary sales.
Jess Rushton, head of business development at Smart Money People, discusses how getting the later life proposition right can benefit the whole residential property market from empty...
The introduction follows the recent API integration with Legal & General Home Finance.
Existing customers can now access further advances up to the age of 90.
A new navigator tool will outline growing range of solutions for later life customers, helping advisers triage customers effectively.
In addition to the higher LTVs, the product is now available to applicants aged 60 and above, and on both single and joint life basis.
30% have or plan to use pension savings to pay off their mortgage.
The Manifesto will call upon UK mortgage professionals to follow several core tenets.
Rates start from 5.84% with products available up to 60% LTV.
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