This week Norwich Union reduced the interest rates on its fixed rate lifetime mortgage.
The product, introduced by intermediaries, will carry a rate of 6.87 per cent (7.30 per cent APR).
Norwich Union also said the fixed interest rate offered by its personal finance sales force will be 7.06 per cent (7.50 per cent APR).
"Norwich Union is the leading provider of lifetime mortgages in the market and we continually review our interest rates to ensure that they remain competitive," said Mark Kelly, director of Norwich Union Personal Finance. To find out more about mortgages, click here.
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