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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.

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Changes to Capital Select Options

Product Update

From 10am on Friday 26 May, Canada Life have temporarily suspended the Capital Select Platinum Plus (Standard and Cashback) products.

Published: 26 May 2023

Standard Life update

General Update

Standard Life have published a new guide available on the Adviser Zone, Simplifying the Application Process

This guide will take you through the documents required to help you and your clients avoid delays and simplify your client's application to completion process.

Published: 26 May 2023

New Lifetime Mortgage launch

Product Update

From 25 May, LiveMore have launched a new lifetime mortgage plan, from MER 7.33%

Published: 25 May 2023

Heritage Criteria Changes

Product Update

From Monday 22 May, Pure Retirement:

  • Allow steel frame houses and bungalows post-2000 modern method construction with an appropriate warranty or BOPAS (Build offsite Property Assurance Scheme)
  • Increase acre to 10 acres, Pure will continue to allow more than 10 acres where the valuation is based on 5 acres
  • Remove limits on IVA and DMPs and allow any level of IVA or DMP to be satisfied at completion using the LTM funds

Published: 22 May 2023

Prime Choice update

Product Update

From Wednesday night 17 May, more2life is changing the maximum age on Prime Midi 2 & 3 for joint life cases, that will be limited to 65yrs (364 days).

  • KFIs on current LTVs are available up until 23:59 Wednesday 17 May 2023
  • Applications on current LTVs can be submitted up until 23:59 Wednesday 31 May 2023
  • KFIs will be on the new LTVs from Thursday 18 May 2023

Published: 16 May 2023

Livemore max loan increase

Product Update

From Tuesday 16 May, LiveMore is increasing the max loan on two tiers:

  • Livemore 1 = £1m (currently £500k)
  • Livemore 4 = £500k (currently £400k)

Published: 15 May 2023

Share your story and enter the Vulnerable Customer Awards

Market Events

When it comes to supporting clients in vulnerable circumstances in achieving their desired financial outcomes, have you got a story that showcases how good consumer outcomes are embedded in the culture of your firm?

Enter the Just Group Vulnerable Customer Awards today

Published: 10 May 2023

Pure Retirement Road Show in London

Market Events

When:

14 June

Register for a dynamic morning filled with expert speakers and engaging discussions centred around key issues affecting your business. Pure roadshow offers a fantastic opportunity to connect with other equity release advisers, gain valuable insights into Pure Retirement, and hear from industry experts on a range of topics.

Expect to delve into inheritance tax, property conveyancing, underwriting criteria, marketing, later life market trends, and technology in a series of insightful discussions and presentations tailored to meet the needs of lifetime mortgage financial advisers.

Don't miss out on this opportunity to expand your knowledge and network with other industry professionals!

Secure your place and view the full agenda

Published: 5 May 2023

Unplaceables webinar

Market Events

When:

10 May, 10am

The second 2023 edition of the popular Unplaceables series, hosted by Pure’s BDM for Central London and Southeast, Ashley Sampson, and featuring insight from representatives from EquiLaw and Advise Wise.

Unplaceables provides an interactive platform allowing you to discuss your hard-to-place cases, and attendees will get the opportunity to benefit from industry-wide knowledge and expertise.

Book your place

Published: 2 May 2023

Standard Life Consumer Duty updates

General Update

As part of the Consumer Duty deadline, Standard Life have updated their product information sheets, setting their target markets, fair value assessments and product features:

Published: 28 April 2023

more2life Consumer Duty updates

General Update

As part of the Consumer Duty deadline, more2life have collected product information sheets on their Consumer Duty webpage

Published: 28 April 2023

The Loughborough Consumer Duty updates

General Update

In readiness for Consumer Duty deadlines, The Loughborough Building Society have collected their Price and Value assessment documents

Published: 28 April 2023

LV= Consumer Duty Hub

General Update

LV= have created a Consumer Duty Hub containing some useful tools and resources to help you with your client conversations and Consumer Duty requirements.

On the hub you’ll find:

  • Product profiles
  • LV= Product Governance Policy
  • Adviser and customer guides

Published: 28 April 2023

Hodge Consumer Duty update

General Update

Hodge have created a consumer duty for Intermediaries webpage that includes information, fair value assessments for our products and a product intention document.

Published: 28 April 2023

L&G Consumer Duty update

General Update

L&G have now completed the Fair Value Assessment.

Their Information Sharing Documents are now available to you on their website

Published: 28 April 2023

Aviva Consumer Duty Hub

General Update

Aviva want to provide key information in readiness for Consumer Duty deadlines.

Published: 26 April 2023

Just Consumer Duty update

General Update

The product information you need to support your obligations under the FCA’s Consumer Duty is now available.

For each of our products you’ll find information, including: our Fair Value Assessment, Target Market Statement, updated Terms of Business, distribution strategy, and how we provide additional or different support for customers who may have characteristics of vulnerability.

Published: 26 April 2023

Discover Canada Life’s Consumer Duty support

General Update

To help you navigate Consumer Duty, Canada Life have added more information about their products and services to their website.

Access Consumer Duty FAQs, learn more about who Canada Life products are designed for, and see how they ensure their solutions offer fair value – all on Canada Life website

Published: 26 April 2023

Product changes

Product Update

Effective from 24 April, Loughborough Building Society have withdrawn one of their products ALIR2/73008 and replaced it with ALIR2|73009 5 years Fixed, available to applicants who are either;

  • Aged 80 on application or
  • Will be 80 or over at the end of their mortgage term

Published: 24 April 2023

The new Heritage Super

Product Update

Pure Retirement have added a new product on their Heritage range, Heritage Super. The product’s key information includes:

  • Available to customers aged 55 to 85
  • Single and joint life applications accepted
  • Available on properties from £150,000
  • Loan amounts of between £10,000 - £800,000
  • Fixed or variable ERCs available
  • 10% ERC-free repayments per year

Heritage Super follows on from their recently launched Heritage Special range, available exclusively to over-80s applicants and offering LTVs of up to 50%.

Learn more about the Heritage range

Published: 21 April 2023

Prime Choice Relaunch

Product Update

Effective from Friday 21 April more2life are relaunching the Prime Choice product range.

The new Prime Midi 1-3 & Prime Extra 1-3 plans will be available from Saturday 22 April.

Published: 21 April 2023

Classic Elite changes

Product Update

From Monday 24 April 2023 Pure Retirement are reducing the minimum loan amount for Classic Elite further advances from £100k to £10k.

Published: 21 April 2023

Digital Equity Release online event

Market Events

When:

Tuesday 2 May, 10am - 12pm

Financial Reporter brings you the Equity Release Event, a series of events held at venues across the UK which aim to bring you, the intermediary, a better understanding of equity release in order to boost your offering to your clients.

This Event will feature knowledgeable industry speakers and will cover a range of topics related to Equity Release including available products, regulatory issues and more. Helping you boost service levels, top up your CPD hours whilst offering an excellent networking opportunity.

Register now

Published: 17 April 2023

New Heritage product

Product Update

Pure Retirement are introducing a new Heritage product “Heritage Super” from Monday 17 April 2023.

The LTVs range from 10% to 37% dependent on age and the product is priced at 6.40% MER.

Published: 14 April 2023

Inheritance Protection Removal

Product Update

From Friday 14 April, Standard Life is removing the Inheritance Protection as a feature of the Horizon Lump Sum and Drawdown products.

This applies to all new KFIs and Offers (including re-offers) produced after the completion of tomorrow’s DPR release and includes Offers and re-offers on the existing pipeline.

Should a pipeline case reach Offer stage or need to be re-offered, it will lead to the removal of GIF from the new Offer. In this scenario, the case can only proceed without GIF if the adviser has revisited this with the customer and their advice needs.

Published: 13 April 2023

Product changes

Product Update

On Thursday 13 April, Just are making some product changes across the Just for you Lifetime Mortgage range:

  • Introducing 5% cashback variants on J1, J2, J2.5 and J2.5 Green
  • Increasing the ISM discount to 40bps across the product range

Published: 12 April 2023

Collaborating for Success: Advisers, Solicitors, and Lenders in Equity Release

Market Events

When:

Thursday 27 April, 10am

Join our upcoming live webinar, in collaboration with Barton Law, Enact Conveancing, Equilaw and Forever Legal: Collaborating for Success: Advisers, Solicitors, and Lenders in Equity Release.

Daniel Edmondson, our National Account Manager, will host the live event and will be joined by Peter Barton, Managing Director at Barton Law, Matthew Taylor, Business Development Director at Equilaw, David Burns, Operations Manager at Enact Conveyancing and Adam Carnall, Director of Partnerships at Forever Legal.

The webinar will end with a live Q&A session, where the speakers will answer to all your questions!

Register now!

Published: 5 April 2023

Achieve lifetime mortgage efficiency through understanding the legal and property condition risks in the underwriting process

Market Events

Register to our webinar series that we'll be hosting in collaboration with Pure Retirement.

The series is free to attend and is made of two live sessions. On each session, we'll cover a different aspect of underwriting to give you a better understanding of the underwriting process.

Register now!

Published: 5 April 2023

50-90+ mortgages: huge opportunities and how to seize them

Market Events

When:

Tuesday 18 April, 10am

Register for a live webinar in collaboration with LiveMore, hosted by Daniel Edmondson, our National Account Manager, joined by Nikola Sukara, Business Development Manager at LiveMore.

The webinar will end with a live Q&A session, where the speakers will answer to all your questions!

Register now!

Published: 5 April 2023

Lending criteria changes

Product Update

On Tuesday 4th April, Just are making some changes to their lending criteria.

Just can now accept:

  • Steel frames – modern method flats
  • Steel frames – modern method houses & bungalows – built post 2000
  • Up to 10 acres of land subject to no agricultural restriction
  • Debt Management Plan (DMP) with no limits that is fully satisfied in full, prior to or at completion
  • Individual Voluntary Agreement (IVA) with no limits that is fully satisfied in full, prior to or at completion

Just can now consider:

  • Land of 10 acres or more subject to no agricultural restrictions

Published: 3 April 2023

Emerald reintroduction

Product Update

From Thursday 30 March, Pure Retirement are reintroducing the Emerald range.

The range will accept applications from consumers aged 55-85, with applicants being able to access maximum LTVs of up to 46.1% depending on their age. The reintroduced product will be lumpsum only.

The range offers a 21-day post-KFI rate guarantee, allowing applicants to assess their options with the peace of mind that they’re insulated from any potential rate increases. Customers will also continue to benefit from the ability to repay up to 12% annually without incurring any early repayment charges.

The latest move comes following the recent reintroduction of the lender’s Heritage range, which re-entered the market last month as a specialist high-LTV product for the over-80s.

You can view Pure’s full product range here.

Published: 30 March 2023

Maxi Choice relaunch

Product Update

Effective Wednesday 29 March, more2life is relaunching Maxi Choice Extra and Super 1 Lump Sum plans.

These plans will:

  • Be Lump Sum only
  • Have a maximum age of 84
  • Not accept flats

Published: 28 March 2023

Change in max LTV

Product Update

On Friday 24 March, LiveMore have increased the max LTV on the Fixed Term Mortgage LiveMore 2 and LiveMore 3 products, from 65% to 70% LTV.

Published: 24 March 2023

Standard Life Home Finance have launched a new voluntary repayments calculator

General Update

Using the new voluntary repayments calculator, you can now measure the influence of repayments and drawdowns on your client's loan, in just a few clicks. This is just one of the tools supporting you and your clients in the decision-making process. View the full range of tools here.

With rates now starting from 5.59%, why not explore the 5 star Defaqto rated Horizon range and see what options are available to your clients today.

Published: 24 March 2023

Aviva cashback feature withdrawal

Product Update

From Monday 27 March 2023 Aviva will be removing the Cashback product feature – which currently provides advisers/customers the option to select cashback at £0, £500 or £1000.

Published: 23 March 2023

Pure Retirement’s quarterly report

General Update

Pure Retirement’s latest quarterly market report is now live, analysing the key trends and headlines from an incredibly changeable end to Q4 2022 as the effects of the mini budget really started to bite.

The latest edition contains the key customer demographic and behavioural changes that will enhance your market knowledge, pulling together the emerging stories from the news cycle to give you a holistic view of the later life sector.

Broken down into three sections, it explores Customer Demographics, Customer Habits and a Market Update.

Headline facts include:

  • 31% of those surveyed say they will work well past the state pension age
  • 46% of savers are confident they have enough saved for retirement
  • 30% of over-55s are changing their retirement plans
  • 44% of self-employed workers are not contributing to a pension
  • 93,421 new and returning customers released equity in 2022

Read the report here.

Published: 23 March 2023

Emerald Cash Release and Further Advances

Product Update

On Thursday 23 March, Pure Retirement are having a rate decrease on the Emerald product range for cash releases and further advances only.

The last date for new business application on the previous rates is 05/04/2023 23:59.

Published: 22 March 2023

The FCA’s Consumer Duty is coming – are you ready?

Market Events

Pure Retirement will be launching its Countdown to Consumer Duty webinar series, enabling you to enhance your understanding of the Duty, and what it means for you and your clients.

The series will be free to attend and count towards your CPD.

The first of their five sessions, run in partnership with Advise Wise, starts April 6th.

Join Head of Financial Services at The London Institute of Banking & Finance, John Somerville, plus Nic Dent, Market Engagement Director, and Julie Pardy, Director of Regulation at Worksmart Limited - Leading supplier of RegTech to the Financial Services Industry and take a deep dive into the detail of what advisers should be thinking and doing now in the run-up to the formal implementation date.

Register for the webinar here.

Published: 17 March 2023

Standard Life new plans

Product Update

Standard Life Home Finance have relaunched Horizon 500, 550 & 600 and have also launched three new lower LTV plans, Horizon 240, 260 & 280, bringing the total number of Horizon lifetime mortgages to 10.

Adding these six plans to the Horizon range has broadened the variety of options available to you and your clients, with rates now from 5.74% and LTVs from 4% to 50%. The criteria for the new plans is the same as the standard criteria and includes all market-leading features currently available through any Horizon plan.

With rates starting from 5.74%, and one of the quickest turnaround times in market, explore the 5 star Defaqto rated Horizon product range today.

Published: 15 March 2023

Emerald Cash Release and Further Advance Decreases

Product Update

From Wednesday 15 March, Pure Retirement are having a rate decrease on the Emerald product range for cash releases and further advances only.

The last date for new business application on the previous rates is 28/03/2023 23:59.

Published: 14 March 2023

Consumer Duty Events

Market Events

When:

April - July 2023

Pure Retirement is hosting a series of live webinars on Consumer Duty.

Find out all details and book your place here.

Published: 10 March 2023

Emerald Cash Release and Further Advance Increases

Product Update

From 9 March, Pure Retirement are having a rate increase on Emerald cash release and further advances.

All new business KFIs are valid for 21 days.

Published: 7 March 2023

Horizon changes

Product Update

From 3 March, Standard Life is launching three new lower LTV shelves on Horizon: Horizon 240, 260 & 280.

The criteria for the new plans will be the same as the standard criteria.

Published: 3 March 2023

Capital Choice Update

Product Update

From 3 March, more2life are launching new lower LTV shelves on Capital Choice. The new plans will be Ultra Lite 1, 2 and 3.

The criteria for the new plans will be same as the standard criteria. These new plans will not have GIF from the outset.

More2life are also withdrawing Capital Choice Ultra Lite for new business.

  • KFIs on current rates will be available up until 23:59 Thursday 2 March 2023
  • Applications on current rates can be submitted up until 23:59 Thursday 23 March

Published: 2 March 2023

MyPure milestone

General Update

Pure Retirement announce they’ve seen a milestone 1,000 customers register and interact with their online account management platform, MyPure, in under 5 months. This figure has been achieved despite a measured, deliberately staggered customer communication programme designed to gauge consumer appetite and ensure platform stability.

Launched last year as an industry first, MyPure enables customers to self-manage key elements of their lifetime mortgages, view their account balances and transactions, download documents such as annual statements, be notified of new documents becoming available, and complete their Certificate of Continuing Occupancy online.

Drawdown plan holders can apply for a cash release, while all plan holders can make ad-hoc payments directly via MyPure, and set up recurring payment schedules such as Direct Debits.

Headline figures since launch include:

  • 410 COCOs completed
  • 161 Cash Release applications submitted
  • 44 one-off optional repayments made
  • 32 direct debits arranged

Learn more about MyPure here.

Published: 2 March 2023

Capital Choice relaunch

Product Update

From Wednesday 1 March more2life will be relaunching Capital Choice Lite, Capital Choice & Capital Choice Midi.

Capital Choice Midi will be for single life only.

The rates and LTVs on the relaunched plans will apply to new KFIs from Wednesday 1st March 2023.

Published: 28 February 2023

Emerald rate increase

Product Update

On Thursday 2 March, Pure Retirement are having a rate increase on the Emerald product range for cash releases and further advances only.

All new business KFIs are valid for 21 days.

Published: 28 February 2023

Fifty Shades of Silver 2023 - Segmenting the over 50s by age, lifestyle and life-stage

General Update

The Silver Marketing Association have launched a new report offering insight into segmenting the over 50s market, in collaboration with Pure Retirement, and with a range of expert contributors including Let’s Talk Ageing.

The report segments the over 50s demographic into categories split by age, lifestyle and life-stage, examining key attributes and points of interest as well as detailed communications preferences, offering a practical and pragmatic guide for use by marketers as a reference tool to understand the over 50s audience and to develop meaningful campaigns by segmenting and engaging this diverse consumer group.

The project was initiated by the Silver Marketing Association, following the success of 2021’s award winning Brand Research Report into the over 50s market, led by Rachel Pease, Head of Marketing at Pure Retirement.

You can access both reports on Pure Retirement’s online Portal here.

Published: 23 February 2023

Emerald rate change

Rate Change

From Thursday 23 February, Pure Retirement are having a rate increase on the Emerald product range for cash releases and further advances only. Please note all new business KFIs are valid for 21 days.

Published: 23 February 2023

New 2-year fix gives LiveMore the broadest 50-90+ fix range

Product Update

On Tuesday 21 February, LiveMore is adding 2-year fixed rates to its broad range of products:

  • Available on all product tiers (LiveMore 1-4)
  • Choose the fee range or fee assisted (no product fee and a free valuation)
  • Free to go after 2 years (ERC period is 2 years)

Click here to view LiveMore’s broad range of products

Give your BDM a call today to discuss your next 50-90+ case.

Published: 21 February 2023

ERC annual report

General Update

The Equity Release Council published its annual report 2022.

Read the report here

Published: 17 February 2023

Pure Retirement appoints new Telephone BDM for the Southwest

General Update

Pure Retirement has appointed Mark Eddison as the new Telephone BDM for the Southwest.

Mark has stepped up from his usual role as Sales Co-Ordinator to help provide market-leading regional support to our advisers in Southwest, working alongside our National Field Sales Manager Jane Mullan to answer queries and assist in progressing applications.

Complementing Mark’s appointment, Pure have also made some updates to those regional teams.

Ashley Sampson, BDM, and Kaitlyn Buxton, Telephone BDM, will support advisers in the South East and London; Karen Banks, BDM, and Daniel Crowther, Senior Telephone BDM, will head up the Central region; and Liz Banks, Telephone BDM, will offer support across Northern England, Scotland and Northern Ireland.

Learn more about the regional support available to you, and your points of contact via their postcode search function.

Published: 15 February 2023

LV= Lifetime Mortgage Update

Product Update

From Friday 17 February, LV= are temporarily withdrawing the 1% Cashback option.

Where a KFI has been generated with cashback, DIPs must be submitted by 12:00 midday, 1 March with applications fully submitted by 12:00 Midday, 2 March.

Published: 15 February 2023

Two weeks of webinars with L&G

Market Events

L&G are hosting a series of live lunchtime webinars between 20 February to 3 March to help financial advisers broaden their knowledge of the protection, guaranteed income, and later life lending markets.

These webinars are live only and will not be recorded.

Check all dates and topics and register now

Published: 15 February 2023

Sovereign range changes

Product Update

From Wednesday 8 February Pure Retirement are making some changes to the Sovereign products which will involve separate pricing for Single Life and Joint Life plans.

Max LTVs will remain the same as the current products on both.

Published: 7 February 2023

Complex made simple: mortgage solutions for professionals with complex income

Market Events

When:

16 February, 11am

A 45 minute webinar featuring industry experts talking about the professional mortgage landscape, the rise in specialist lending, complex incomes and the underwrite. You'll also get a chance to hear from other brokers who work in this market with a live Q&A to end the session.

Hosted by Hodge & guests:

  • James Enos, national account manager (South)
  • Andrea Roberts, national account manager (North)
  • Ellie Gibbs, senior mortgage underwriter
  • Courtney Flockhart, mortgage adviser, Henry Dannell
  • Sarah Grace, managing director, Sarah Grace Mortgages

Register now

Published: 3 February 2023

Product Enhancements

Product Update

From 6pm on Thursday 2 February, Legal & General are making enhancements to their Lifetime Mortgage Range:

  • Increasing their offer validity period from 50 to 90 days.
  • Introducing new lower LTV Products : Opal, and Carbon, with lower LTVs and interest rates, available on the Optional Payment & Flexible Lifetime Mortgages on a standard and £599 fee basis together with Premier versions for both.
  • Reducing Interest Rates cross the Lifetime Mortgage range, by up to 0.30%

Published: 2 February 2023

Product changes

Product Update

From 1 February, Loughborough have withdrawn one of their Term Discounted products and replaced with another.

Published: 1 February 2023

Heritage range update

Product Update

From Wednesday 1 February, Pure Retirement are reintroducing the Heritage range. This will be through the new Heritage Special 1, 2, 3 products:

  • Available for ages 80-85 only
  • No Freedom products are being reintroduced at this time
  • Mini property value £150,000
  • Max loan amount £800,000

Please note the Cash Release and Further Advance products remain unchanged.

The following criteria changes will apply:

  • Studio flats that exceed 30sqm and within the M25 are allowed (LTV 85% restriction applies as per flats).
  • Max number of bedrooms increased from 4 to 5 as standard, 6-7 for individual consideration.
  • Lodgers/Airbnb occupiers in Annexes allowed – max 2.
  • Increase leasehold Ground Rent (GR) limit from 0.1% to 0.2% and combined Ground Rent/Service Charge (GR/SC) between 1.5%-2.5% can be referred for individual consideration

Published: 1 February 2023

LiveMore rebrands

General Update

LiveMore has launched a brand refresh.

As well as a new look, their new website makes it easier to find key information such as product info, rates, and contact details for your local BDM.

You can view some of LiveMore’s key documents by clicking here

Published: 27 January 2023

Setting the Foundations workshops

Market Events

After qualifying, it can feel daunting taking the leap into advising lifetime mortgages. L&G want to help you in making this transition as simple and easy as possible.

By attending this workshop attendees will learn:

  • Identify how to secure clients and create opportunities in the equity release market
  • Describe the key considerations for an effective fact find
  • Explain the difference between mainstream and lifetime mortgage processes
  • Describe key factors of the conveyancing relationship and how best to manage client’s expectations by being aware of the conveyancing journey and pitfalls that may arise
  • Outline the purpose of The Equity Release Council

Delegates participating in this workshop can claim up to four CPD hours toward the CII/Personal Finance Society member CPD scheme.

Check dates and register to secure your place

Published: 27 January 2023

Overview of Legal & General Home Finance

Market Events

This one-hour webinar provides an overview of our later life mortgages and takes you through the key documents you'll need to write business with us.

Check dates and register for one of the sessions

Published: 27 January 2023

CII Equity Release Exam workshops

Market Events

Facilitated by CII accredited trainer, this one-day workshop will help you understand:

  • The principles of equity release and the types of schemes available
  • The suitability and affordability of the different types of equity release products
  • The risks to the consumer associated with equity release
  • The application of suitable equity release solutions according to the circumstances of different consumers
  • How to approach the case study style exam questions

Places are limited and awarded on a first come first served basis, so you can get the most out of the interactive workshop.

Check dates and register

Published: 27 January 2023

Product relaunch

Product Update

From 24 January, more2life is relaunching Capital Choice Ultra Lite Lump Sum on the market.

Published: 24 January 2023

SVR increase

Product Update

From 1 February, Hodge will be increasing the Standard Variable Rate (SVR) on all mortgage products from 6.60% to 7.10%.

Published: 20 January 2023

LiveMore product changes

Product Update

LiveMore are excited to share some fantastic changes to their product ranges:

  • 50bps rate reduction: Starting at 6.19%
  • Retirement Interest Only (RIO): Minimum age is now 50 (falling from 55) opening the product up to more of your clients
  • Fee assisted range returns: Includes no product fee and a free valuation (rates start at 6.34%)

Click here to view LiveMore’s product range

Published: 20 January 2023

Emerald range updates

Product Update

On Wednesday 18 January Pure Retirement is reducing interest rates on Cash Release and Further Advances of the Emerald product range.

Applications deadline is 23.59 on Tuesday 31 January 2023.

Published: 17 January 2023

Just lending criteria changes

Product Update

On Monday 16 January, Just are making some changes to their lending criteria.

Just can now accept:

  • Max loan amount of up to £1,000,000
  • Max loan size for Northern Ireland (NI) of £500,000
  • Studio flats that exceed 30sqm and within the M25 (LTV 85% restriction applies)
  • Max number of 5 bedrooms as standard
  • Lodgers/Airbnb occupiers in Annexes – maximum 2
  • Leasehold Ground Rent (GR) limit of up to 0.2%

Just can now consider:

  • Combined Ground Rent/Service Charge (GR/SC) between 1.5%-2.5%
  • 6-7 bedrooms
  • Properties adjacent to commercial property, subject to valuation

Properties Just can consider if adjacent or close proximity to commercial, subject to valuation:

  • Schools, Places of worship, Local sport venues (i.e. local cricket club), Healthcare premises, Care homes

Properties Just cannot consider if adjacent or close proximity to these types of commercial:

  • Oil Refineries/Fracking, Prisons, Recycling units, Licensed Premises, Hotels & Hostels, Commercial Factories, Food prepared and/or sold on a commercial scale, Industrial Parks, General industrial use, Storage/Distribution

Published: 13 January 2023

The Unplaceables with Barton Law and Advise Wise

Market Events

When:

15 February, 10am

Join Pure Retirement BDM, Karen Banks, with guest speakers from Barton Law and Advise Wise, to discuss your hard-to-place cases. Please get in touch if you have something you would like to discuss.

Register

Published: 13 January 2023

Emerald updates

Product Update

On Thursday 12 January Pure Retirement are increasing interest rates on Cash Release and Further Advances for the Emerald product range.

Applications deadline is 23.59 on 25 January.

Published: 11 January 2023

LTV changes

Product Update

From Friday 6 January, Scottish Widows are making some LTV changes to their Lifetime Mortgages.

Published: 6 January 2023

A conversation with Hansen Lu, Senior Economist at Aviva - CPD webinar

Market Events

When:

10 January, 10am

Aviva's 1st webinar for 2023 will feature Senior Economist and former city economic forecaster, Hansen Lu. He will talk about rising interest rates, the economic outlook for 2023 and what that means for house prices. Learning objectives:

  • Understand what's driving the current weakness in economic conditions
  • Consider how the economy may evolve in 2023, and the likely impact on households
  • Examine how the economy may influence the housing market in 2023

Register now

Published: 5 January 2023