LV= cuts Equity Release rate

The lifetime mortgage rate for customers aged 60-80 will fall from 6.59% to 6.49% AER from 3 January 2011, while the flexible lifetime mortgage rate will now be 6.69% (from 6.79%) AER. Vanessa Owen, head of equity release said: “IFAs have previously indicated that customers found the guaranteed features of our equity release products, such as clearly defined early repayment charges, really attractive. I am confident that this combined with our new lower rates makes our equity release product an even stronger offering for advisers and their clients.” Advisers that have submitted an app...