Category: Equity release
Monthly or ad-hoc payments can be made to either pay off some or all of the interest on the loan or up to 10% of the original loan amount.
The option offers a rate of 3.86%, compared with 4.35% for Capital Select Gold, though customers over the age of 70 must have an LTV below 23%.
Lilford was previously a financial adviser moving into estate planning and most recently he was director of lending at second charge loan agency Evolution Money.
Claire Singleton will take over as chief executive of Legal & General Home Finance from Steve Ellis.
He moves into this role within the group having previously held the position of managing director at Primetime Retirement, a brand within KR Group.
Nationwide Intermediary Solutions scooped Lender of The Year, Carrington took home Overall Broker of the Year and Aldermore won Specialist Lender of The Year.
Through the Standard Life equity release service, advisers will have access to lifetime mortgages, with and without a drawdown facility, interest-only lifetime mortgages and home reversion plans.
The equity release market has increased by 19% year-on-year in terms of lending and Key Partnerships has seen growth of 38% in the number of referrals year-on-year, with initial lending of £120m with a total facility available of £149m in 2018.
Bower Retirement said that during this time the industry and Bower Retirement have seen many changes. King has helped to steer the growth and strategic direction of the company but now the time has come for a change. He will be leaving Bower from March 2019.