As from Thursday 30th April we are increasing interest rates on our J2 LTV series
Please see details below
J2 – Interest rates are shown without cash facility loading or interest servicing reductions
| Cash back | Set up fee | Minimum Advance | Age Range | Interest Rate (MER) | AER |
|---|---|---|---|---|---|
| 0% | £0 | £10,000 | 55+ | 3.64% | 3.70% |
| 2% | £0 | £10,000 | 55-85 | 3.84% | 3.91% |
| 5% | £0 | £10,000 | 55-85 | 4.14% | 4.22% |
Please note:
- For customers who choose to take the option of a cash facility, there will be a 0.05% increase to the MER rates (in order to then calculate the AER rates, you need to add the 0.05% increase to the MER first)
- There are four tiers of interest rate reduction for those customers who choose to service some or all of the monthly interest:
- If servicing >0.01% of the monthly interest amount there will be a 0.01% reduction
- If servicing >25.01% of the monthly interest amount there will be a 0.10% reduction
- If servicing >50.01% of the monthly interest amount there will be a 0.15% reduction
- If servicing >75.01% of the monthly interest amount there will be a 0.30% reduction
- All cashback is capped at £10,000
When will these changes take effect?
These changes will be implemented on Thursday 30th April 2020. All new quotes from this day will be on the new rates
Just a click or call away
If you have any further questions on the information above or would like to discuss a specific case, please do contact your dedicated account manager on their usual number. Alternatively, our sales support team are ready to help: you can reach them on 0345 302 2287 or by email.
