New Life launches new equity release products

New Life is making changes to its lifetime mortgage range, lifetime fix and lifetime gold.

The new products include a lifetime fix available for both single and joint lives at 6.35% monthly or 6.54% annual – LTVs starting from 17% at age 55.

There is also a £600 cashback offer for completions with funds released on or before December 29 this year. 

The gold maximum lump sum product is back for single lives and now available at 6.75% monthly  or 6.96% annual with LTVs starting from as high as 20% at age 55.

For completions with funds released on or before December 29 there is a cashback of £300 to the customer.

New Life also offers a 5% Early Repayment Charge structures on the market.

Peter Lucas, chief Executive of New Life, says it has always been committed to intermediaries with exceptional products and personal service.

He says: “We also continue to offer a high level of procuration fees on these products as we understand the important role that advisers play in providing advice on what can be an emotive decision.

“Going forward, we have a substantial and secure funding pipeline and are looking forward to helping intermediaries provide retirement financing solutions for many UK consumers.”