Category: Equity release
Gifting cash earlier in an individual’s lifetime is becoming more commonplace, due to the impact of the pandemic, according to Claire Singleton, chief executive of Legal & General Home Finance.
Adviser engagement during the symposium also improved this year.
Research found that over half of mortgage lenders saw an increase in their overall rating.
The offerings are Maximum Choice Super 1 and 2, which are open to borrowers between the ages of 55 and 95.
When planning a move, many over-50s have considered how the value of their current home plays a role in their long-term plans.
Dave Harris, chief executive at more2life, said: “Technology has clearly proven itself to be a key asset to advisers’ business during the COVID-19 crisis.”
The product range now includes two new plans – named ‘Midi’ and ‘Max’ – and a refreshed ‘Plus’ plan, offering a greater range of LTV options and rates.
The new pricing methodology will be fully integrated with the equity release sourcing platforms including Advise Wise, IRESS, and AiR, meaning brokers can continue to access the Classic range the same way they have always done.
£8.2bn UK-wide has been shifted from over 50s to family members since the start of the pandemic.
Fluent becomes NerdWallet’s exclusive partner for secured loans, mortgages and equity release products.