LV= cuts equity release rates
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by Gill Montia
Equity release provider LV= has cut the rates on its Lifetime and Flexible Lifetime mortgages, and will no longer charge a higher rate of interest for loans of over £600,000.
The rate on LV=’s Lifetime Mortgage for customers up to 80 years old has dropped to 6.19% AER (from 6.39%) and there is a new rate of 6.39% (down from 6.49%) for the same age range on its Flexible Lifetime mortgage.
Advisers that have submitted an application but whose client has not yet been offered a mortgage will automatically receive an offer at the new lower rate.
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