Prudential Lifetime Mortgage launched
www.moneynews.co.uk > Mortgages > Prudential Lifetime Mortgage launched
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Money News |
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Prudential Lifetime Mortgage launched
Mon 1st Aug 2005
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Customers taking out the new mortgage do not have to take the max loan to value, reducing the compound interest and addressing the FSA's recent concerns.
The drawdowns are subject to a minimum initial drawdown of £20,000 and subsequent minimum drawdowns of £5,000, and maximum loan to value (LTV).
Prudential teamed up with mortgage specialists Global Home Loans for the new product. The new specialist Prudential team (all ex-Norwich Union specialists) will help to educate and train advisers in the opportunities presented by lifetime mortgages.
Global Home Loans will deal with the application process and there is a ring-fenced Prudential team within the operation. The firm has also developed new technology, including case tracking and KFIs, to ensure that the adviser experience is "second to none".
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Related News : Prudential |
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