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Norwich Union increases LTV on equity release products

Norwich Union has increased the loan to values on all of its fixed rate and cash reserve option lifetime mortgage products.

The provider claims it now offers one of the highest average maximum LTV rates.

NU post retirement products group product manager Dominic Fraser-Smith says:“With equity release becoming an increasingly attractive option to many over 60’s we are delighted to be able to offer these increased LTVs on our lifetime mortgage product range.

“Many consumers have pointed to the fact that they would like further flexibility from the products on offer in the market. We therefore hope that by increasing our LTVs, advisers will be able to offer their clients even more suitable products, that allow them to release the amount of equity necessary to supplement their retirement provision.

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