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LV= Links up with intrinsic to promote flexible lifetime mortgage

27th August 2008 Print
Retirement specialist LV= has announced a new partnership with distribution network Intrinsic Financial Services to promote its recently launched equity release product - Flexible Lifetime Mortgage.

LV= has been added to Intrinsic's panel of equity release providers, giving the network's 1300 members access to one of the most adaptable equity release products on the market. LV= is a member of the Safe Home Income Plans (SHIP) body.

The Flexible Lifetime Mortgage from LV= allows homeowners to draw down funds from the equity in their home, including a 15-year guarantee on the maximum amount. The product also includes a No Negative Equity guarantee.

Financial advisers are now able to obtain a flexible drawdown offering for their clients, enabling them to benefit from a product which meets consumer needs. Intrinsic clients between the ages of 60 and 95 can draw down a minimum amount of £10,000 with additional withdrawals of at least £2,000 available up to the maximum Loan To Value amount.

This is the second successful partnership for LV= with Intrinsic. In June LV= launched its innovative Mortgage & Lifestyle Protection product with Intrinsic, offering advisers protection for their clients against accident, sickness and unemployment, with level mortgage payment protection and the choice of level or index-linked living expenses protection all under one plan.

Stuart Tragheim, Distribution Strategy and Business Development Director at LV= said: "We are delighted with our relationship with Intrinsic for both our recently launched and highly regarded products - the Flexible Lifetime Mortgage, a flexible equity release solution, and Mortgage and Lifestyle Protection, our revolutionary tailored protection plan. Intrinsic is one of the most successful new distribution networks, and working with them really is a boost for us, enabling more advisers to have access to our innovative product solutions for their clients."