Great news! We have made some exciting changes to Premier Flexible.
- More people will qualify as we are reducing the minimum loan size from £250,000 to £100,000.
- Customers will no longer need to pay a valuation fee on application, meaning all of our products will offer free valuations as standard.
- We’re also reducing the interest rate and LTVs.
In addition, we are reducing the interest rates on some of our other lifetime mortgages.
Lifetime mortgages without an arrangement fee
| Premier Flexible | Premier Flexible & Optional Payment | Premier Flexible & Optional Payment Plus | |
|---|---|---|---|
| London and South East | |||
| New | 3.54%* (3.60% AER) | 3.66%* (3.72% AER) | 3.97%* (4.04% AER) |
| Old | 3.65% (3.71% AER) | 3.73% (3.79% AER) | 3.99% (4.06% AER) |
| Rest of UK | |||
| New | 3.52%* (3.58% AER) | 3.64%* (3.70 AER) | 3.93%* (4.00% AER) |
| Old | 3.63% (3.69% AER) | 3.71% (3.77 AER) | 3.95% (4.02% AER) |
Lifetime mortgages with 2% Cashback
| Premier Flexible & Optional Payment | Premier Flexible & Optional Payment Plus | ||
|---|---|---|---|
| London and South East | |||
| New | 3.85% (3.92% AER) | 4.16% (4.24% AER) | |
| Old | 3.92% (3.99% AER) | 4.18% (4.26% AER) | |
| Rest of UK | |||
| New | 3.83% (3.90% AER) | 4.12% (4.20% AER) | |
| Old | 3.90% (3.97% AER) | 4.14% (4.22% AER) | |
Lifetime Mortgages with a £599 arrangement fee
| Premier Flexible & Optional Payment | Premier Flexible & Optional Payment Plus | ||
|---|---|---|---|
| London and South East | |||
| New | 3.62% (3.68% AER) | 3.93% (4.00% AER) | |
| Old | 3.69% (3.75% AER) | 3.95% (4.02% AER) | |
| Rest of UK | |||
| New | 3.60% (3.66% AER) | 3.89% (3.96% AER) | |
| Old | 3.67% (3.73% AER) | 3.91% (3.98% AER) | |
New LTVs for our Premier Flexible Lifetime Mortgage
| Age | New LTV | Age | New LTV | Age | New LTV |
|---|---|---|---|---|---|
| 55 | 8.0% | 67 | 21.3% | 79 | 32.0% |
| 56 | 9.0% | 68 | 22.1% | 80 | 33.0% |
| 57 | 10.0% | 69 | 23.5% | 81 | 34.0% |
| 58 | 11.0% | 70 | 25.0% | 82 | 35.0% |
| 59 | 12.0% | 71 | 26.2% | 83 | 36.0% |
| 60 | 13.5% | 72 | 27.0% | 84 | 37.0% |
| 61 | 14.5% | 73 | 27.7% | 85 | 38.0% |
| 62 | 15.5% | 74 | 28.2% | 86 | 38.0% |
| 63 | 16.5% | 75 | 28.9% | 87 | 38.0% |
| 64 | 17.5% | 76 | 29.7% | 88 | 38.0% |
| 65 | 19.0% | 77 | 30.5% | 89 | 38.0% |
| 66 | 20.5% | 78 | 31.5% | 90 | 38.0% |
* For existing customers with available drawdown facilities, these are the interest rates that would be applicable from 6.30pm on 25 June 2018. Additional drawdowns are only available on the same product as the initial advance.
