| We’ve made changes to our Just For You Lifetime Mortgage. 1) We are reducing interest rates to the following: | | | | | Without facility | With facility | | | Product | Cashback | Min Advance | Age range | Age bracket for rate | AER | MER | AER | MER | | | J1 | £0 | £10,000 | 55+ | 55+ | 5.24% | 5.12% | 5.29% | 5.17% | | | J2 | £0 | £10,000 | 55+ | 55+ | 4.70% | 4.60% | 4.75% | 4.65% | | | | | J2 | £500 | £30,000 | 55-85 | 55-85 | 4.84% | 4.74% | 4.90% | 4.79% | | | | | J2 | £1,000 | £30,000 | 55-85 | 55-85 | 4.89% | 4.78% | 4.94% | 4.83% | | | | J2 | £1,500 | £30,000 | 55-85 | 55-85 | 4.94% | 4.83% | 4.99% | 4.88% | | | | | J2 | £2,000 | £40,000 | 55-85 | 55-85 | 4.99% | 4.88% | 5.04% | 4.93% | | | | J3 | £0 | £10,000 | 55+ | 55+ | 5.63% | 5.49% | 5.68% | 5.54% | | | | J3 | £500 | £30,000 | 55-85 | 55-85 | 5.72% | 5.58% | 5.78% | 5.63% | | | | J3 | £1,000 | £30,000 | 55-85 | 55-85 | 5.78% | 5.63% | 5.83% | 5.68% | | | | J3 | £1,500 | £30,000 | 55-85 | 55-85 | 5.83% | 5.68% | 5.88% | 5.73% | | | | J3 | £2,000 | £40,000 | 55-85 | 55-85 | 5.87% | 5.72% | 5.93% | 5.77% | | | | J4 | £0 | £10,000 | 55+ | 55-69 | 6.05% | 5.89% | 6.10% | 5.94% | | | 70+ | 6.54% | 6.35% | 6.59% | 6.40% | | | J5 | £0 | £10,000 | 55+ | 55+ | 6.05% | 5.89% | 6.10% | 5.94% | |
Please note:
- J2 and J3 are moving to one age band for interest rates
2) We are increasing LTV’s to the following: | Age | J2 | J3
Single Life | J3
Joint Life | J4
Single Life | J4
Joint Life | | 55 | 21.0 | 24.0 | 23.0 | 24.5 | 23.1 | | 56 | 22.0 | 25.0 | 24.0 | 25.5 | 24.1 | | 57 | 23.0 | 26.0 | 25.0 | 26.5 | 25.1 | | 58 | 24.0 | 27.0 | 26.0 | 27.5 | 26.1 | | 59 | 25.5 | 28.0 | 27.0 | 28.5 | 27.1 | | 60 | 27.6 | 29.5 | 29.0 | 30.0 | 29.1 | | 61 | 28.6 | 31.0 | 30.5 | 31.5 | 30.6 | | 62 | 29.6 | 32.0 | 31.5 | 32.5 | 31.6 | | 63 | 30.6 | 33.0 | 32.5 | 33.5 | 32.6 | | 64 | 31.5 | 34.0 | 33.5 | 34.5 | 33.6 | | 65 | 32.3 | 35.1 | 34.6 | 35.6 | 34.7 | | 66 | 32.6 | 36.2 | 35.7 | 36.7 | 35.8 | | 67 | 33.6 | 37.3 | 36.8 | 37.8 | 36.9 | | 68 | 34.6 | 38.4 | 37.9 | 38.9 | 38.0 | | 69 | 35.6 | 39.5 | 39.0 | 40.0 | 39.1 | | 70 | 36.6 | 41.1 | 40.1 | 41.7 | 40.2 | | 71 | 37.7 | 42.2 | 41.2 | 43.0 | 41.3 | | 72 | 39.0 | 43.4 | 42.4 | 44.5 | 42.5 | | 73 | 40.0 | 44.6 | 43.6 | 45.5 | 43.7 | | 74 | 41.0 | 45.8 | 44.8 | 46.5 | 44.9 | | 75 | 42.0 | 47.5 | 47.0 | 47.5 | 47.1 | | 76 | 43.0 | 48.5 | 48.0 | 49.0 | 48.1 | | 77 | 44.0 | 49.5 | 49.0 | 50.0 | 49.1 | | 78 | 45.5 | 50.5 | 50.0 | 51.0 | 50.1 | | 79 | 46.5 | 51.0 | 50.5 | 51.5 | 50.6 | | 80 | 48.3 | 52.0 | 52.0 | 52.5 | 51.6 | | 81 | 49.3 | 53.0 | 53.0 | 53.5 | 52.6 | | 82 | 49.7 | 53.5 | 53.5 | 54.0 | 53.1 | | 83 | 50.1 | 53.5 | 53.5 | 54.0 | 53.1 | | 84 | 50.5 | 53.5 | 53.5 | 54.0 | 53.1 | | 85+ | 51.0 | 54.5 | 54.5 | 55.1 | 54.1 |
Please note:
- The LTVs applicable to J5 will also be increasing. Please enter your clients details into our Medical Enhancement Calculator to understand the maximum loan amount available based upon their medical and lifestyle conditions
- J2 will be moving to one TLV tier for single and joint lives
When will these changes take effect?These changes will be implemented from Friday 8 March 2019 What will happen to pipeline cases?
- All new quotes from Friday 8 March to be on the new rates and new LTV’s
- Where the interest rate is decreasing, any relevant application which has not been offered can be switched to the new rate
- All re-offers to stay on their current LTV unless adviser specifies to proceed on higher amount
Just a click or call awayIf 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. |
