LV= is introducing some positive enhancements to their new Lifetime Mortgage Drawdown+, after listening to adviser feedback and monitoring customer trends.

In uncertain and fast-changing times, having future flexibility is reassuring for clients who want to have control and choice on their income levels in retirement. LV=’s internal data shows that clients’ priorities are shifting and having the option to repay their lifetime mortgage earlier, so they can manage the interest roll-up, is a preferred route. Naturally the way clients are choosing to use their funds is also evolving. Their property wealth is now funding intergenerational needs, not just their future retirement plans, but also allowing clients to support their families. It’s also no surprise that people are looking to top up their income and are investing in home improvements to create a more comfortable lifestyle for themselves.

As a response to those changing needs, LV= has introduced a number of enhancements to benefit your clients:

  • Lifetime Mortgage Drawdown+ with increased maximum loan amount to £1.5m (including any additional borrowing)
  • Unlimited early repayments totalling up to 10% of total advances each year for both their Lifetime Mortgage products, free of early repayment charge (minimum repayment amount now just £50)
  • A limited time incentive (18 February -16 April 2021) which offers 1% cashback. The new product variants will be available alongside their existing Lifetime Mortgage Drawdown+ and Lifetime Mortgage Lump Sum+. *T&Cs apply, to find out more about the offer visit our adviser centre.

What’s more LV=’s 5* rated Lifetime Mortgage Drawdown+ product has a unique feature as it’s the only product in the market to calculate their ERCs based on the completion date of the original loan, not the date of any additional withdrawals.

The lifetime mortgage products are available on the LV= Equity Release Portal, where you can choose a cashback or no-cashback option. To get a quote and apply, please visit the smarter portal.

For the latest marketing support and thought leadership content you can visit LV=’s Equity Release Marketing Hub .

If you have an equity release requirement that you would like to discuss with the LV=, please contact your dedicated support team, using the options below: