Norwich Union (NU) has revamped its lifetime mortgage range, including the launch of a new product.
The Lifestyle Lump Sum Max is a new equity release offering with a high LTV for those who want to borrow more. The provider will also replace its Cash Reserve Option and fixed-rate lifetime mortgage with the Lifestyle Flexible Option and Lifestyle Lump Sum respectively. NU says the changes will give customers higher LTVs for all age groups, combined legal and application fees, the option to take all products from the age of 55 and no waiting period for further borrowing. Anthony Rafferty, head of marketing at NU’s post retirement division, comments: “[Advisers] told us that they want pro...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
