Legal & General - Flexible Max Lifetime Mortgage
Roll up Lifetime Mortgage
Rate: 4.96%
APR: 5.20%
Exclusive Deal:
Offers: Free valuation | 2% Cashback Option* | 10% Voluntary Repayment Option with No Penalty | Protected equity guarantee | NO Application Fee Option** | Location Based Interest Rate***

Legal & General entered the equity release market by acquiring existing provider Newlife Mortgages who had been providing equity release products since 2003. Legal & General have now launched the Flexible Max Lifetime Mortgage following new funding by Legal & General themelves.

This Flexible Max lifetime mortgage scheme is aimed towards those looking for a higher lump sum release and in good health. No monthly payments are required. Should the maximum release not be taken, the remainder will be held in a drawdown facility and the product meets Equity Release Council guidelines.

Legal and General will now accept Optional Partial Repayments of upto 10% of the original amount borrowed with NO penalty. Therefore, the future balance of their plans can now be controlled, whether its to pay the interest accrued & maintain a level balance or even use the full 10% allowance & reduce the balance over the long term.

The L&G Flexible Max plan is available on a single and joint life basis for those residents in England, Wales & mainland Scotland. All Legal & General lifetime mortgage plan now start at age 55 and has a maximum age of 90 at application.

The competitively priced interest rate is fixed for the longevity of the lifetime mortgage term.

There is a standard minimum property value of £100,000, yet a minimum of £150,000 for ex-council houses. Property values are acceptable upto £2million and Legal and General will consider properties upto £4million in London and even beyond, on a case-by-case basis. For flats & maisonettes Legal and General will use 85% of the property value in calculating the maximum lump sum.

The lowest possible lump sum withdrawal is £10,000 with an overall maximum equity release lump sum of £750,000. Legal & General will allow additional borrowing, subject to a minimum £5,000 release.

Anyone aged over 55, in good health and looking for the maximum equity release, should consider this Legal & General Flexible Max equity release plan as at most age groups L&G will offer one of the highest maximum lump sums possible.

*Actual rate for taking the cashback offer will result in an increase of 0.2% to the standard interest rate.
**The L&G Flexible plan is available with & without arrangement fees. Choosing the NO arrangement fee option is available until further notice.
***Interest rate illustrated applies to properties located outside London & South-East England

For your free Legal & General Flexible Max Lifetime Mortgage quote, call the Compare Equity Release team on 0800 678 5169 today.
These are lifetime mortgages and home reversion plans. To understand their features and risks, ask for a personalised illustration.

 

  • All schemes are authorised and regulated by the FCA
  • Continued ownership of 100% of your home
  • Interest rates sourced from the whole of the market
  • Continued benefit from future house price increases
  • Exclusive deals to save you money
  • Free advice with no commitment or credit checks

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These are lifetime mortgage & home reversion plans. To understand the risk & features of these plans, request a personalised Key Facts Illustration.

CompareEquityRelease.com helps you to compare and arrange equity release schemes with the following equity release companies:

Aviva | Bridgewater | Hodge Lifetime | Just Retirement | LV= | more2life | One Family | Retirement Advantage | Pure Retirement