Equity release rules simplified by LV=

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Equity release rules simplified by LV=

Wed 24th Aug 2011

LV= has restructured its equity release rules for certain properties following feedback from advisors needing clear guidance on options for customers.

With the emphasis on simplicity, LV= claimed the restructure will allow a greater degree of flexibility with properties that once fell through the margins of previous policies, such as sheltered accommodation where increasing numbers of pensioners reside.

"These new more flexible terms give us the ability to look at each case individually without potential equity release properties being automatically declined on our system," explained Vanessa Owen, the company's head of equity release.

She added that the feedback from advisors was instrumental in the company offering "value and quality" products and services.

The announcement follows figures earlier this month from the financial services company that sampled the views of independent financial advisors.

Nearly all advisors surveyed said they believe equity release will come to form the backbone of retirement funding in the coming decades.

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