L&G partners with Santander in lifetime mortgages deal

L&G said existing Santander customers who face a shortfall in their interest-only mortgages could use the service to pay off debt. It is also available to customers who want to release equity from their homes to fund their retirement. The provider said no separate advice fee would be charged, regardless of whether a product is taken out or not. It added where customers do go ahead no valuation or arrangement fee will be charged. L&G entered the equity release market last year and has completed more than £400m in lifetime mortgage sales to date. Earlier this month, it said its retire...