Background
Legal and General Home Finance entered the equity release marketplace in early 2015 by acquiring existing lifetime mortgage company New Life Mortgages. This enabled them a quicker route to market with immediate permissions, whilst at the same time obtaining PRA & FCA regulatory approval.
Legal & General's range of equity release schemes principally offer flexible drawdown lifetime mortgage plans with varying degrees of loan-to-values to suit the overall size of cash facility required. All plans come with the balance control feature - the 10% partial repayment function. L&G being one of the most recognised equity release lenders are always looking to develop the later life market and have more plans in store, which all bodes well for an already expanding post retirement lending market.