Liverpool Victoria has just introduced a new Flexible Lifetime Mortgage, accessible to financial advisors through their existing systems.
The Liverpool Victoria mortgage allows customers aged between 60 and 95 to use equity in their property as a cash resource, drawing a minimum of GBP10,000 initially, then in increments of GBP2,000 up to the maximum loan to value amount. Financial advisors will be able to provide quotes for interested parties from their existing Assureweb systems, making it a quick and easy exercise.
Targeting the older end of the market this style of mortgage offered by Liverpool Victoria enables customers to access the value of their home when they may need it most and still retain ownership of the property.
As part of the Mortgage Club Legal and General has added a conveyancing service for customers, something they feel is an essential part of the whole mortgage process.
The view of the Legal and General mortgage spokesman is that effective and efficient conveyancing can make or break the house moving process. If the conveyancing is not done at a good pace then there is a greater likelihood that the deal can fall through, meaning the whole process of finding a property has to begin again.
Legal and General are using the skills and knowledge of intermediaries to manage the conveyancing process, since these financial advisors and legal experts have the experience and knowledge to get all the work done to customers satisfaction.
Effective from 16 May the Nationwide Building Society will have reduced interest rates on both two year and five year fixed rate mortgages.
The two year fixed rate mortgage will have a new rate of 5.95 percent with just a GBP599 arrangement fee. There is also a fee-free Nationwide Building Society two year foxed rate mortgage that will be available at 6.35 percent. These rates are for people moving house but there is also a remortgage offer, with rates of 6.15 and 6.55 percent respectively for the same mortgage offers as above.
The longer five year fixed rate mortgage can be had at 5.85 percent for house purchasers, again with a GBP599 fee, while the remortgage option is 5.95 percent. Customers coming to the Nationwide Building Society to change mortgage from a different company are also entitled to a special offer on a five year fixed rate mortgage, with no fee, at 5.95 percent.