Interest Rate change

The Lifetime Mortgage Drawdown+ rates will be decreasing as of 8^th October, please see the attached rate table for information.

Lending Policy Changes for Lump Sum+ and Drawdown+

From Thursday 8^th October, the following changes will go into effect:

• Acceptable timber frame to change from post-1960 to post-1970
• Ground rent must not exceed 0.2%
• Maximum storeys reduced from 7 to 6
• Annual service charges and ground rent increase from 1.5% to 2.5% (subject to ground rent not exceeding 0.2%)
• Flying freehold to increase from 10% to 15%
• Sheltered/Age restricted properties no longer permitted

Please note, that the application deadline for any cases quoted on the previous lending criteria up to close of business on 7th October will be 21st October. Please see the Lending Policy document below for full details.