Greater flexibility for equity release customers at LV=
LV= has introduced a new flexible lending policy for its equity release customers.
The new simplified terms offer greater flexibility in terms of the types of properties that can be accepted, allowing the underwriting team to accept applications that may previously have been declined.
For example, sheltered accommodation properties or unique and unusual properties that are in exceptional condition or in a desirable location may now be individually underwritten.
Vanessa Owen, LV= head of equity release, comments: “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.
“LV= is committed to offering great value and quality products but also continually reviewing and evaluating the effectiveness of our service to IFAs.
“The feedback from advisers has helped us to adapt our terms and provide a more easy to understand and flexible offering.”