Your guide to LV for intermediaries

Intermediaries in the United Kingdom have a major role in helping people achieve their dream of owning a home. They connect potential borrowers with reliable mortgage lenders and assist them in finding the best mortgage products available in the market. 

However, there are companies that, while not exclusively focused on loans, still offer mortgage options to applicants. For instance, LV for Intermediaries is an insurance company, but they have offerings for clients who are looking for home loans. They also partner with financial advisors instead of mortgage brokers. 

In this article, Mortgage Introducer will talk about LV for intermediaries and how they can help financial advisors with their client-focused products and tools. We will focus on their mortgage services, particularly their equity release selections. Would you like to check if you have clients who are eligible for LV’s property loans? Read on for more. 

Getting to know LV for intermediaries 

Liverpool Victoria Financial Services Limited is one of the country’s biggest insurance companies, operating under the trading name LV= since 2007. They offer a wide range of insurance and retirement products. 

It was founded in 1843 as Liverpool Victoria Friendly Society. Since then, LV has been providing insurance, investments, and other financial services for more than 180 years. 

Here are some of their insurance products: 

• car insurance 
• multi cover insurance 
• travel insurance 
• pet insurance 
• multi car insurance 
• electric car insurance 
• landlord insurance 
• breakdown cover 
• van insurance 
• life insurance 

LV for intermediaries also offer home insurance. Watch this clip for mortgage brokers with clients who are interested in getting home insurance: 

Aside from their insurance products, LV for intermediaries also offers investments and income protection. If your clients are looking for retirement income solutions, LV’s products might be the best choice. They also have: 

• equity release or lifetime mortgages 
• fixed term annuities 
• drawdown products 

How does LV help intermediaries? 

LV for intermediaries markets itself as an investment, protection, in-house advice, and retirement specialist. As such, financial advisors who want to attract more clients can partner with LV and introduce their services. 

They also have marketing tools which are designed for intermediaries. LV’s Equity Release Marketing Support Hub is created to help financial advisors expand their brand and improve the quality of their services. 

Here are some of LV’s resources and ready-made content which you can leverage to showcase your business and attract leads: 

• Social media assets: These are content that can help financial advisors increase their presence on social media. They can also improve one's interaction with their target market. 

• Introductory and follow-up emails: LV has templates which financial advisors can use when talking to prospective and referred clients. 

• LinkedIn messages: Since LinkedIn is a good platform to market your brand, LV can provide their partners with outreach posts to message introducers directly and easily. 

• Introductory letter: LV for intermediaries also has simple yet effective letter templates. 

• Flyer: Want to reach your leads faster? Use LV for intermediaries’ customisable flyers. Financial advisors can download the flyer template, add their logo and other important information, and print. 

With such tools that can be navigated with ease, LV for intermediaries is a great choice not just for you but also for the top mortgage intermediaries in the UK. 

Mortgage products offered by LV for intermediaries 

LV for intermediaries specialises in lifetime mortgages. Here is a quick look at four of their offerings: 

1. Lifetime Mortgage Drawdown+ 
2. Lifetime Mortgage Lump Sum+ 
3. Lifetime Mortgage Drawdown Lifestyle 
4. Lifetime Mortgage Lump Sum Lifestyle 

Let us further explore each lifetime mortgage product below: 

1. Lifetime Mortgage Drawdown+ 

LV for Intermediaries’ Lifetime Mortgage Drawdown+ lets your clients borrow a portion of their property’s value as an initial loan. They also have the option to make additional withdrawals from a pre-agreed reserve. 

Your clients will not have to pay interest repayments throughout the life of the mortgage. Instead, the rolled-up interest will be repaid along with the loan once your client passes away or if they move into long-term care. 

The Lifetime Mortgage Drawdown+ is available for clients who are at least 55 years old. The maximum age requirement is 84 years old. LV for intermediaries sets the minimum loan at £10,000. 

Other features include: 

• £1.5 million as the total maximum lending amount 
• further withdrawals are on request but not more than once per calendar month, with a £1,500 minimum 
• additional borrowing might be provided but not guaranteed 
• the interest rate is linked to the loan-to-value (LTV) ratio 

2. Lifetime Mortgage Lump Sum+ 

LV for intermediaries knows that your client's home is probably their most valuable asset. Their Lifetime Mortgage Lump Sum+ can help your clients access the equity that's tied up in their houses. 

Your clients will be able to use that money to achieve their goals in the future. This can be for: 

• funding retirement 
• making home improvements 
• covering unexpected expenses 
• other later life expenses 

This lifetime mortgage product is for clients who are at least 55 years old and no older than 84 years old. There will be no interest repayments during the period set by LV’s Lifetime Mortgage Lump Sum+.  Instead, the loan and any accumulated interest are repaid when your client passes away or moves into long-term care. 

Other features include: 

• maximum lending of up to £1.5 million 
• additional borrowing might be provided but not guaranteed  
• the interest rate is linked to the loan-to-value (LTV) ratio 

3. Lifetime Mortgage Drawdown Lifestyle 

LV for Intermediaries’ Lifetime Mortgage Drawdown Lifestyle offers flexible features that can adjust to your clients’ needs, allowing them to enjoy a confident retirement. 

With this lifetime home loan, your clients can borrow a portion of their property value as an initial loan. Then, they will have the choice to make additional withdrawals from a pre-approved reserve. 

As for a guaranteed inheritance for their family and loved ones, your clients can safeguard a percentage of their property value.  

Your clients won’t need to make interest repayments during the life of this mortgage product. The total interest and the loan will be repaid when your client passes away or moves into long-term care. 

Check out Lifetime Mortgage Drawdown Lifestyle’s age criteria and other features: 

• minimum age requirement: 55 years old 
• maximum age requirement: 90 years old 
• minimum lending at: £10,000 
• maximum lending at: £1.5 million 
• the interest rate is linked to the loan-to-value (LTV) ratio 

Additional borrowing might also be provided but it is not guaranteed. LV for intermediaries will only consider this request under certain conditions. 

4. Lifetime Mortgage Lump Sum Lifestyle 

This lifetime mortgage product allows your clients to release the equity on their property so they can use the funds for their future needs. LV’s Lifetime Mortgage Lump Sum Lifestyle also guarantees a future inheritance for your clients’ loved ones using LV’s Inheritance Protection option. 

Like the other three above, there will be no interest repayments throughout the life of the loan. Instead, the rolled-up interest and loan will be repaid when your client dies or moves into long-term care. 

The minimum age requirement is 55 years old while the maximum is 90 years old. LV might allow additional borrowing, but this option is not guaranteed. 

LV also sets the maximum lending at £1.5 million. The interest rate for Lifetime Mortgage Lump Sum Lifestyle is linked to your client’s age and the LTV ratio. 

Want to better understand how equity release or lifetime mortgages work? Watch this video: 

Trivia: are you aware that lifetime mortgage customers are getting younger? According to the latest market trends, there is a drop in the average age of borrowers. There is also an increasing preference for drawdown plans.   

No Negative Equity Guarantee 

LV for intermediaries offers a No Negative Equity Guarantee for your clients. This safeguards your client’s finances in case the future value of their property is lower than what they owe. 

What this guarantee means is that your clients won’t be in debt from LV’s lifetime mortgage products. This will be subject to their valuer’s assessment if the sale price of your client’s property is reasonable.  

Lifetime Mortgages cashback 

LV for intermediaries provides flexibility for your clients through their 1% cashback offering. This is included in all of their lifetime mortgage products. 

This cashback will be paid in addition to the loan amount so it can boost the maximum funds available to your clients. The cashback can help your clients borrow less without compromising on their financial objectives. 

This cashback will be given in addition to the loan amount to increase the total funds available to your clients. This feature will allow your clients to borrow a smaller amount while still achieving their objectives. 

By offering this option, LV for intermediaries helps your clients maintain their financial goals without needing to take on more debt than necessary. Your clients can also use this ‘cash boost’ to pay fees or other associated costs with the lifetime mortgage plan. 

Why choose LV for intermediaries 

LV for intermediaries might not cater to all types of clients but they specialise in a particular niche market. Their equity release options are perfect for homeowners in the UK who want to maximise the equity of their properties.   

If your clients do not meet the specific requirements that LV for intermediaries has set, feel free to check out other mortgage lenders. There are also a lot of home loan providers that offer intermediary-only platforms. These exclusive websites are designed so that they can provide the best service to their partner brokers.  

Do you have clients who are buying a home for the first time? What about aspiring landlords or current ones who wish to expand their portfolio? Feel free to look at these guides on UK lenders with intermediary-only platforms: 

• NatWest for intermediaries 
• Barclays for intermediaries 
• HSBC for intermediaries 
• Nationwide for intermediaries 
• Accord for intermediaries 
• Coventry for intermediaries 
• Leeds for intermediaries 
• Skipton for intermediaries 
• Aldermore for intermediaries 
• Precise for intermediaries 

Would you recommend LV for intermediaries’ lifetime mortgage products to your clients? Why or why not? Feel free to comment below