Background
Standard Life was a recognised household name - synonymous with providing the UK with pensions, savings and insurance products. Having undergone significant corporate changes, they have now re-entered the later life market following their withdrawal from providing equity release plans in 2008.
Standard life's roots go back to 1825. They later became a mutual in 1925 with offices located worldwide including Canada and China. In 2006, it demutualised and floated on the London Stock Exchange and from their the brand segmented and owned by various companies. The latest of these is Phoenix Group, who in 2021 have now launched their range of lifetime mortgages under the Standard Life brand.
The Standard Life Home Finance range of lifetime mortgage plans is called Horizon, which offers both Lump Sum and Drawdown versions - with and without fee options. The range of plans start with low loan-to-value (LTV) products, but come with competitive interest rates. As the LTV's increase through the products, so does the interest rates accordingly. All plans include the flexible 10% partial repayment facility and fixed early repayment charges, of which most equity release plans have in today's competitive marketplace.