With effect from 6pm on Thursday 30th March 2017, L&G Home Finance are making some changes across their product range. 
 
The changes are as follows:
 

Lifetime mortgages now available from age 55
From 6pm on Thursday 30 March L&G are reducing the minimum age on their Lifetime Mortgage to 55.

 

Drawdown facilities for all clients
All of their products will also include a drawdown facility. As with their current flexible products, where your client borrows less than the maximum available, the rest is available in a drawdown facility for them to take as and when they need it.

L&G will be replacing their Lump Sum and Lump Sum Plus products from this time with their new Flexible Max and Flexible Max Plus products. Please see the pipeline instructions below.

The minimum initial advance across all products (excluding Premier Flexible) will be £10,000.

 

Offer of Loans now valid for longer
Offers are now valid for 50 calendar days from the date they are issued.

 

When will these changes take effect?
These changes will be implemented from 6pm on Thursday 30 March and you can view the amended product summaries on their website from this time.

 

Existing Lump Sum & Lump Sum Plus Pipeline
KFIs generated on or before 6pm on Thursday 30 March will be offered on the existing products.

 

If you have not yet submitted an application, the easiest way for you to take advantage of these new flexible products is to generate a new KFI.

 

However, if you’ve already submitted an application and you’d like L&G to offer the case on a new flexible product, you will need to provide them with a new KFI, as this could be a material change to your advice. You can generate the KFI in the usual way from the online portal. Please do not submit a new application online, simply email the new KFI to underwriting@landghomefinance.com quoting the account number and they will do the rest. 

 
 
For more information, contact L&G on 03330 048444  or the Equity Release Club on 01452 310777. 
 
 
 
 

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