Norwich Union beefs up LTV rates

The equity release provider is enhancing its lifetime mortgage product range by increasing its LTV on all fixed rate and providing cash reserve option.

The plan hopes to introduce further flexibility to the market and allow clients to withdraw more equity from their property.

Dominic Fraser-Smith, group product manager at Norwich Union Post Retirement Products, says: “With equity release becoming an increasingly attractive option to many over 60s we are delighted to be able to offer these increased LTVs on our lifetime mortgage product range.

“We 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.”