We have reduced the JD interest rates on our Just for you lifetime mortgage as follows:
| Product | Available to | Cashback | Val | Minimum Advance | Age range | Interest rate (MER) without facility |
| J4 | Air Mortgage Club | 0% | Free | £10,000 | 55+ | 6.20% |
| J4 | Air Mortgage Club | 2% | Free | £10,000 | 55-85 | 6.40% |
| J4 | Air Mortgage Club | 3% | Free | £10,000 | 55-85 | 6.50% |
| J4 | Air Mortgage Club | 4% | Free | £10,000 | 65-85 | 6.60% |
| J4 | Air Mortgage Club | 5% | Free | £10,000 | 65-85 | 6.70% |
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)
Please also note 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
When will these changes take effect?
These changes were implemented from Thursday 8 August 2019
What will happen to pipeline cases?
- All new quotes from Thursday 8 August to be on the new rates
- Any relevant application which has not been offered can be switched to the new interest 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.
