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Alex Edmans, head of financial services at Saga Personal Finance, said: “These brand new benefits, not available anywhere else, offer our customers another level of reassurance when it comes to equity release.”
The service, available across the Just For You range, means intermediaries can tailor a lifetime mortgage to each individual client.
While it is positive that lenders are passing competitive rates onto consumers, buyers will need significant deposits, typically of around 40%.
With house price inflation outstripping pay rises, many aspiring buyers are also struggling with lenders’ affordability criteria.
Nine months of consecutive increases in mortgage availability has seen total product choice reach its highest level in 16 months, with 4,512 deals on offer.
These mortgage products are available for the purchase or remortgage of properties in England and Wales.
Mortgage brokers come in all shapes and sizes from advising on standard residential loans to a variety of specialisms.
Mortgage Advice Bureau (MAB) has become the official mortgage broker for the First Homes scheme pilot at the Keepmoat Homes Meadow View development.
This includes the bank’s Mortgage Guarantee Scheme rates at 95% LTV.
A total of 53% of borrowers increased their loan size and 53% of those who remortgaged took out a 5-year fixed rate product, which was the most popular product length.