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Newlife launches two new home reversion plans

Newlife Home Related Finance, formerly New Life Mortgages, has launched two new home reversion products, as revealed by Money Marketing in March.

Home reversion plans, which make up around 5 per cent of the equity release market, allow consumers to sell all or part of their home, at a reduced price, while retaining the right to live in the home rent-free for the rest of their life.

The optimum home reversion plan allows consumers to release a minimum of £25,000 and maximum of £250,000, where 100 per cent of the home is sold.

The options home reversion plan allows consumers to release a minimum of £25,000 or 25 per cent of the property’s value, whichever is lower, and a maximum of £250,000, or between 25 per cent and 95 per cent.

Chief executive Peter Lucas says: “The extension of our portfolio enables us to provide a more comprehensive offering, and meet a wider range of financial requirements.  We deal exclusively through intermediaries and our new home reversion plans have been developed in response to feedback from advisers. This enhances our offering in the equity release sector and demonstrates our long-term commitment to this growing market.”


North on sick leave

Legal & General Investment Management director and head of global high yield David North has gone on extended sick leave. He manages the £2bn highincome and £528m diversified absolute return funds.

Widows in link-up to offer online pension planner

Scottish Widows has teamed up with JLT Online Benefits to offer a range of new and enhanced tools for its mymoneyworks workplace savings platform. The provider has developed a new online pension planner tool which enables employees to forecast how much they may get in retirement. It also allows customers to evaluate the individual impact […]

Steve Billingham

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Customer expectations are changing and many could be asking themselves if they are with the right adviser, so now is the time to introduce the three management tactics outlined below to transform your business


Lloyds most exposed to “vulnerable” high LTV borrowers

Lloyds Banking Group is the most exposed of all of the major UK banks to vulnerable high loan-to-value borrowers, according to the Bank of England. According to the BoE, 60 per cent of LBG’s £345bn mortgage book is classed as high LTV – mortgages between 70 and 90 per cent of the property’s value – […]


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