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LV= Equity Release

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LV= Equity Release

LV= has been a leading Equity Release provider since 2002 and has a dedicated team of experts to support advisers with case consulting. Both their lifetime mortgage products have received Dwfaqto and Moneyfacts ratings. Their product ratings:

Their product ratings:

  • Lifetime Mortgage Lump Sum+ – 5 Star Defaqto Rating
  • Lifetime Mortgage Lump Sum+ – 4 Star Moneyfacts Rating
  • Lifetime Mortgage Drawdown+ – 5 star Defaqto Rating
  • Lifetime Mortgage Drawdown+ – 5 star Moneyfacts Rating

Why consider LV= for later life lending?

LV= is recognised as a well-known and trusted provider, having been in this market for more than 10 years.  LV= also take their responsibilities as a lender very seriously, making decisions with great care and with the client’s best interests at heart.

To find out more please visit the website.

Both their Lifetime Mortgage Lump Sum+ and Lifetime Mortgage Drawdown+ come with:

  • Fixed and defined early repayment charges ending after 10 years
  • Downsize protection option once the plan has been running for 5 years*
  • Six repayments per year totalling up to 10% of total advances after 12 months. Free of any early repayment charge – Lifetime Mortgage Drawdown+
  • Six repayments per year totalling up to 10% of the original advance. Free of any early repayment charge – Lifetime Mortgage Lump Sum+
  • LV= Doctor Services – six expert medical services for customers provided free of charge (this is a non-contractual benefit)
  • To help clients navigate their way through the care system, LV= has teamed up with MorganAsh to offer customers Care Navigator. Care Navigator provides specialist support and guidance for those looking for help with their care need. To find out more visit https://www.lv.com/adviser/equity-release/why-choose-lv
  • They have a dedicated Marketing Support hub to help you with your client conversations. There you can find a variety of useful materials and educational content. To find out more visit https://www.lv.com/adviser/equity-release/er-marketing-hub

*LV= Doctor Services is provided by Square Health Limited. This service is not regulated by the Financial Conduct Authority or the Prudential Regulation Authority. This service is a non-contractual benefit and can be changed or removed at any time.

Useful Links

Website

Equity release product details

Equity release terms and conditions

Application form

Lending Policy

LV= insights

For the latest marketing support and thought leadership content you can visit LV=’s brand new Equity Release Marketing Hub

 

Both LV= products are available on their new LV= Equity Release Portal. To find out how to register visit their Equity Release Portal

Lifetime Mortgage – Lump Sum+

  • Min age 60 – max age 95
  • Roll-up mortgage
  • Additional borrowing may be available (not guaranteed)
  • Interest rate fixed for life
  • £595 application fee – there will be no application fee for clients with loans of £50,000 or more. However, if the loan is below £50,000 the fee will still apply.
  • Maximum lending of up to £1.5million
  • Fixed early repayment charges ending after 10 years
  • Six repayments per year totalling up to 10% of the original advance. Free of any early repayment charge
  • Downsize protection included for full repayment from year five onwards

Lifetime Mortgage Drawdown+

  • Min age 60 – max age 95
  • The minimum we will lend to start with it £10,000
  • Further withdrawals are on request but not more than once per calendar month with a £1,500 minimum and £70,000 maximum
  • Roll-up mortgage
  • Additional borrowing beyond the agreed reserve may be available (not guaranteed)
  • Interest rate fixed for each drawdown
  • Maximum lending of up to £500,000
  • Six repayments per year totalling up to 10% of total advances after 12 months. Free of any early repayment charge
  • £695 application fee

Both LV= products are available on their new LV= Equity Release Portal, so you can submit business and track cases quickly and easily. The new portal offers an intuitive, 24/7 instant access with fast and efficient application management. The LV= Equity Release Portal allows you to track the progress of all your cases, store relevant documents safely in the online library and submit applications more quickly with no signatures – giving you and your clients answers sooner.

If you are not registered to use the online portal, you can find out the step-by-step process on LV=’s ‘how to register’ page here.

New flood-check tool

To make things even easier, LV= has created a new flood checking tool, which will give you a reasonable indication whether your clients’ property will meet their lending criteria regarding flood risk before submitting the application, so you can manage their expectations. Find out more about their new flood-check tool here.

Registration process

Setting up an Agency

You’ll need to agree to the terms of business by setting up an agency with LV=.

If you already hold terms of business with LV= please email your request to lv.agency@lv.com.

For new directly authorised firms LV= work with ORIGO to provide a streamlined application process. By partnering with them, they can offer a consistent experience that may be used to when joining other providers.

Visit the website to set up an agency

Contact Details

All enquiries should be directed through our LV= Equity Release Desk on 0800 028 8974 (option 1) or email.

Or visit the website