Norwich Union Fixed-Rate Lifetime mortgage rates increased
www.moneynews.co.uk > Mortgages > Norwich Union Fixed-Rate Lifetime mortgage rates increased
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Norwich Union Fixed-Rate Lifetime mortgage rates increased
Mon 15th May 2006
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Any business that is conducted through the Norwich Union Personal Finance sales force will have a rate of 6.8 per cent.
Previous rates on the Norwich Union Fixed-Rate Lifetime mortgage range were 6.1 per cent for intermediaries and 6.3 per cent for all mortgages that were purchased through the lender's sales division.
The changes take effect from today and cases that are currently being considered will be subject to the new rates if they are completed after June 9th.
"We strive to make sure our rates remain competitive at all times but long-term interest rates have risen and this means we have had to raise our lifetime mortgage rates," commented Darren Carter, director of sales and marketing at Norwich Union Personal Finance.
Norwich Union claims to be the market-leading provider of equity release mortgages, with a market share of 34 per cent, as well as the largest insurer in the UK.
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