Lifetime mortgage deal stretched

Monday, 25 February 2008 12:00

Just Retirement is to refund the valuation fee to customers applying for its equity release mortgage until March 31st.

The deal, which applies to the Roll-Up Lifetime Mortgage which has interest rate starting at 6.05 per cent, is an extension of the offer the firm has already been running this year.

As well as the refunded valuation fee, customers can also benefit from a loan-to-value rate of up to 40 per cent depending on the age of the applicant, modest withdrawals which include cash advances of £10,000 and the ability to draw down cash as and when it’s needed.

Rates are age-related with 6.05 per cent AER being available for 60 to 65 year olds.

Those aged 66 to 70 will be charged at a rate of 6.15 per cent, customers aged between 71 and 80 at 6.25 per cent and the rate is 6.35 per cent for people aged 81 plus.

David Cooper, marketing director of Just Retirement said: “Our special offer to refund valuation fees has been well received in the independent financial adviser (IFA) market.

“We are delighted to be able to extend this offer until the end of March, so that more people get the opportunity to enjoy a great deal on equity release from Just Retirement.”

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