LV=

LV=

LV= is a leading provider of Lifetime Mortgages, helping people live better lives after unlocking capital from their home.

With an ER1 qualified sales team, at the heart of LV=’s business is building meaningful and long lasting relationships with advisers, so they ensure doing business with them is as flexible as possible.

Key Features

Proc Fees

Product Gross                  Gross Min/Max Net
Equity Release 1.50% + £25 per case 1.50%

Key Features

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    Min age 60 – max age 95
     

     
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    Roll-up mortgage with interest rate fixed for life or fixed for each drawdown

     
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    Lump Sum Lifetime Mortgage maximum lending up to £1 million.

     
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How is LV= different:

  • They do a series of pre-application checks at quote stage to avoid nasty surprises down the line; helping advisers manage customer expectations.
  • They have a process in place to honour customer interest rates, even if the property has been down-valued by up to 10% from the original estimate.
  • They will hold the interest rate for the customer for up to 75 working days to provide certainty and a smooth customer journey.

They have a 5 star rating from Defaqto for both our Lifetime Mortgage Lump Sum+ and Flexible Lifetime Mortgages.

LV= lifetime mortgage products come with:

  • Fixed and defined early repayment charges ending after 10 years
  • Downsize protection option once the plan has been running for 5 years*
  • Flexible repayments of up to 10% of the original loan amount after the plan has been running a year*
  • LV= Doctor Services – six expert medical services for customers provided at no additional cost

LV= Doctor Services is provided by Square Health Limited. This service is not regulated by the Financial Conduct Authority or the Prudential Regulation Authority. This service is a non-contractual benefit and can be changed or removed at any time.
*terms and conditions apply 

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Register to place business with LV=:

*Please select that you are a PMS Mortgage Club member when registering, placing business or checking existing payment route to ensure you receive the procuration fee quoted by PMS.

Register

 

Lifetime Mortgage – Lump Sum+

  • Maximum lending of £1m (we will consider on a case by case basis lending to up to £1.5m)
  • Additional borrowing may be available (non-contractual)
  • £595 application fee

Update on Flexible Lifetime Mortgages

From 30 June 2020, LV= has withdrawn their Flexible Lifetime Mortgage product for new business. They will however be launching a new lifetime Mortgage Drwadown+ product soon, so watch this space.

  • Access to their cash reserve is still guaranteed under their Terms & Conditions.
  • They should continue to contact LV= as normal if they wish to request a withdrawal.
  • If your client has exhausted their cash reserve and needs access to additional funds, they can still apply for additional borrowing as before.

To get a quote of discuss any pre application enquiries call the LV= Equity Release Desk on 0800 028 8974 or email them on [email protected]