Legal and General Update

Reduced Lifetime Mortgage interest rates from Legal & General Home Finance

On Wednesday 01 December at 6 pm we’re reducing interest rates on our Lifetime Mortgage range by up to 0.10%. You’ll find more information, and our new interest rates, in our product summaries below.

• Flexible Lifetime Mortgage Product Summary
• Optional Payment Lifetime Mortgage Product Summary
• Premier Flexible Lifetime Mortgage Product Summary
• Premier Optional Payment Lifetime Mortgage Product Summary

Pipeline cases: Pre Offer

If you have not yet submitted a Full Mortgage Application (FMA) you can select a new product in our Later Life Mortgages broker portal after 6 pm on Wednesday 01 December by either generating a new Illustration, or if at Decision in Principle (DIP), selecting the new product on the Product Selection page, where for any inflight cases you will be prompted to select a lower rate product.

If you have submitted an application but have not yet received an Offer of Loan, and these new interest rates are lower, you don’t need to do anything. We will automatically offer on these new rates for acceptable cases.

Pipeline Cases: Post Offer 

If you’ve already received an Offer of Loan and would like us to re-offer on one of these new rates, simply fill out this online form, or call us on 03330 048444 (Option 2, Option 2). You can do this for applications submitted on Apply Online, or our new platform, the Later Life Mortgages Portal.

You do not need to submit a new application.

Things to Remember:

• Our Premier Lifetime Mortgage products are currently priced 0.10% lower than the £599 Arrangement Fee equivalent rate.
• Large Loan Rate reductions are available on all loans above £700k for Flexible & Optional Payment plans.
• We accept sole applications for unmarried partners when the applicant is the sole title owner on our Lifetime Mortgages.