At the same time the society has increased the maximum age at the end of the term from 75 to 83 and raised the maximum term of the mortgage from 35 to 40 years.
The mortgage pays out a regular monthly income, rather than a lump sum or drawdowns that a borrower can request.
At the other end of the spectrum there was £800m of buy-to-let purchase mortgages, 11.1% fewer than the same month the year before. There was £2.4bn of new buy-to-let remortgages, 9.1% more year-on-year.
The £3.6bn represented a 19% increase from last year, while the number of plans increased by 21% to over 47,000, data from Key shows.
Izard drew parallels between Nine Elms and Canary Wharf 10-15 years ago.
Eastgate has nearly 30 years’ experience in financial services, having held senior positions at Saffron Building Society and Experian prior to joining OneSavings Bank.
The firm will now send the questionnaires to the client via email as soon as the case is instructed.
Adams starts as sales director after joining from Santander UK.
The Durham-based bank is said to be on the verge of appointing Citi to advice its board on options for the business.
Those servicing up to 25% receive a 0.01% reduction from the roll up interest rate, up to 50% a 0.10% discount, up to 75% a 0.15% reduction and up to 100% a 0.30% saving.