New Life enhances mortgage range
New Life’s Lifetime Fix is now available for both single and joint lives at 6.35% monthly (6.54% annual) with LTVs starting from 17% at age 55. New Life is also offering cash back of £600 to the customer for all completions with funds released on or before 29th December 2010.
New Life is also reintroducing its Lifetime Gold Max Lump Sum product for single lives at 6.75% monthly (6.96% annual). LTVs for this product will start from as high as 20% at age 55. A customer cash back of £300 is available on this product for all completions with funds released on or before 29th December 2010.
Peter Lucas, chief executive of New Life, said “We are delighted to enhance our Lifetime Mortgage offering to such an extent that this product suite is amongst the most competitive in the market. We also continue to offer a high level of procuration fees on these products as we understand the important role that advisers play in providing advice on what can be an emotive decision.
“Going forward, we have a substantial and secure funding pipeline and are looking forward to helping intermediaries provide retirement financing solutions for many UK consumers.”