Background
Legal and General Home Finance entered the equity release marketplace in early 2015 by acquiring existing equity release 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 have started life with a range of flexible drawdown lifetime mortgage plans and higher maximum lump sum plans, all with the control-ability measure of the 10% partial repayment function. They have more equity release plans in store with ambitious targets to grow the market significantly over the forthcoming years, which all bodes well for an already expanding post retirement lending market.