Bristol & West improves Lifetime mortgages

25 October 2005
Bristol & West is offering new, more attractive rates on its Lifetime mortgage range for over-60s.

The mortgage provider's capital released fixed rate for over-60s is now up 5.79 per cent to 20 per cent loan-to-value, while the over 70s can enjoy 30 per cent loan-to-value.

Customers who would prefer a free valuation and no arrangement fee can opt for a range of 6.15 per cent instead.

Head of marketing at Bristol & West, Mark Howell, said: "The introduction of these rates confirms our intention to become a leading provider of lifetime products.

"I believe they are currently amongst the most competitive in the market, representing an attractive proposition to those clients wishing to raise capital from their property."

New research by Prudential earlier this month revealed that customer confidence in lifetime mortgages has increased over the past two years.

The survey, carried out by YouGov on behalf of Prudential, found that 44 per cent of over-50s would now consider a lifetime mortgage compared to nine per cent in 2003.

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