The interest rate on LV=’s lifetime mortgage for customers up to 80 years old has been cut from 6.59% to 6.49%.
Its flexible lifetime mortgage has been cut from 6.79% to 6.69% for the same age range.
Vanessa Owen, LV= head of equity release, said: “IFAs have previously indicated that customers found the guaranteed features of our equity release products, such as clearly defined early repayment charges, really attractive.
“I am confident that this combined with our new lower rates makes our equity release product an even stronger offering for advisers and their clients.”
