The CML predicted equity release lending of between £2 billion and £5 billion annually over the next 5 years, making this one of the fastest growing niche mortgage markets in the UK. This, coupled with its complex nature makes the equity release market a perfect fit with Bristol & West Mortgages' specialist strategy.
With the UK mortgage market more dynamic than ever and in the context of a challenging economic environment, mortgage lenders need to keep their offers relevant and competitive. Bristol & West Mortgages has designed its Lifetime product to meet the changing needs of intermediaries and their clients.
The key benefits of the Lifetime mortgage are:
· A rate of 6.65% fixed for the life of the loan
· A lump sum release
· A no negative equity guarantee
· Highly competitive LTVs across all age bands
· Portability within criteria.
As members of Safe Home Income Plans (SHIP), homeowners have the reassurance of knowing that Bristol & West Mortgages belongs to an organisation dedicated to the fair and proper marketing of equity release plans.
Dominic Toller, Head of Marketing, Bristol & West Mortgages, said: "With a reputation as The Specialist, the equity release market is one where Bristol & West Mortgages should have a presence. We have recognised the clear need in the market and we have developed a competitive product designed to meet the changing needs of intermediaries and their clients".
