Welcome to Advise Wise Market News, the news feed where you can find the latest from the later life market, including rate changes, product and process updates and market events.
Market news
Aviva's Lifestyle Max change to property value
With immediate effect Aviva is no longer accepting properties valued over £1million across all locations on their lifestyle Max lifetime mortgage option.
Any pipeline cases will progress as normal, subject to their usual underwriting criteria being met.
The Lifestyle Flexible Option lifetime mortgage has not changed.
Pure Retirement Heritage product changes
On Friday 10 January, Pure Retirement is making the following changes to the Heritage range:
- Supreme price point (including cashback versions) withdrawn from sale.
- Freedom 20 and 40 price points withdrawn from sale.
- Interest Servicing discounts now range from 0.30% to 0.65%.
- Special 2, 2.5 and 3 will now have separate LTVs by single life and joint life, with single lives offering market leading LTVs (44% age 70, max 58.4%).
- The number of cashback options have been reduced significantly, with no cashback available on Special 3.
LiveMore launches new Lifetime mortgage range
LiveMore has revamped its Lifetime mortgage range, which now has four products:
- Standard
- 5 Year ERC
- 6 month Offer
- Property+
The new products include:
- Drawdown on all products
- Competitive LTVs up to 49.75%
- ERCs - Five-year ERC product, or 8 years
- Day 1 downsize protection
- Offer period – new six month offer product or 3 months
- No product fees
- Free Valuations (up to £2m valuation)
- ERCs waived - if redeemed or sell due to borrower passing away or moving into long-term care (in 3yrs)
Property considerations that have moved from Property+ into our Standard range:
- Properties above, below and near to commercial
- Grade 2 Listed
- Pylons
- Annexes (non-commercial)
- Solar Panels with UK Finance compliant lease
- Running a business from the property (must have no commercial signage or structural changes)
L&G product update
From 6pm on Thursday 9 January, Legal & General are reducing LTVs on their products.
More2life Tailored LTV and cashback changes
From 2 January night, more2life is making the following changes on Tailored Lifetime and Tailored Enhanced plans:
C6: removal of 3%, 4% & 5% cashbacks, LTVs split into Single & Joint Life
- Single Life LTV increase
- Joint Life LTV decrease for ages 60 – 73 inclusive
- Joint Life LTV increase for ages 74 - 84 inclusive
- Max LTV 55.40%
C7: removal of 2%, 3%, 4% & 5% cashbacks, LTVs split into Single & Joint Life
- Single Life LTV increase
- Joint Life LTV increase for ages 55 - 58 and 76 - 84 inclusive
- Joint Life LTV decrease for ages 60 - 75 inclusive
- No change to age 59 Joint Life LTV
- Max LTV 55.90%
C8: removal of all cashback options, LTVs split into Single & Joint Life
- Single Life LTV increase
- Joint Life LTV decrease for ages 60 – 75 inclusive
- Joint Life LTV increase for ages 76 – 84 inclusive
- Max LTV 58.40%
Enhanced: Rate decrease, removal of all cashback options, LTVs split into Single & Joint Life
- Single Life LTV increase
- Joint Life LTV increase for ages 55-58 and 77 – 85 inclusive (PA1)
- Joint Life LTV decrease for ages 59 – 76 (PA1)
- Max LTV 58.40%
Rate changes and deadlines table
View the tableAdvise Wise in the press
- Advise Wise completes seamless API Integration with LV= to enhance user experience with Instant KFIs and direct online applications Published: 21 January 2025
- Advise Wise extends one-click instruction feature to Forever Legal’s later life services Published: 9 January 2025
- Advise Wise enhances vulnerability support for later life advisers, using Comentis technology Published: 19 November 2024
- Advise Wise launches new cost calculator tool, transforming product sourcing for later life advisers Published: 30 September 2024
- Advise Wise introduces primary surveyor information enhancing adviser support in later life lending Published: 17 September 2024
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