Norwich Union has reduced the interest rates on its Fixed Rate Lifetime Mortgage plans.
The typical interest rate on the Fixed Rate Lifetime Mortgage will be reduced from 6.35% to 6.30%* (6.6% APR).
Brendan Kearns, product development manager at Norwich Union Personal Finance, says: “This rate change continues the downward trend of interest rates on lifetime mortgages. Although it is only a small change to the rate on our Fixed Rate Lifetime Mortgage I am glad to be able to use every opportunity to pass decreases in the cost of our funding onto customers.”
The typical interest rate on the Fixed Rate Lifetime Mortgage will be reduced from 6.35% to 6.30%* (6.6% APR).
Brendan Kearns, product development manager at Norwich Union Personal Finance, says: “This rate change continues the downward trend of interest rates on lifetime mortgages. Although it is only a small change to the rate on our Fixed Rate Lifetime Mortgage I am glad to be able to use every opportunity to pass decreases in the cost of our funding onto customers.”
Related links |
Equity Release insurance : News update: December 2006