Just Retirement cuts lifetime mortgage by 0.1%

Equity release provider Just Retirement has cut the rate of its roll up lifetime mortgage plan by 0.1%.

The change came into effect on January 12 and all applications which have been submitted after that date will be offered the new rate.

Just Retirement external affairs and customer insight director Steve Lowe says: “With food bills, energy costs and inflation on the rise, now may be the right time for advisers to consider equity release products for their clients as a way to top up their retirement income.

“We believe that equity release market will expand significantly in coming years such that thousands more individuals may attain the lifestyle improvements that equity release provides to increasing numbers of retirees today.”