LV= is the brand name of Liverpool Victoria which exists as a mutual society for the benefit of its members, not shareholders. Founded in 1843 to meet the financial needs of working-class families, LV= has grown significantly by acquiring other smaller mutuals and building societies.
LV= offer a suite of equity release plans which include a drawdown lifetime mortgage and lump sum plans which are available on a main residence but also extend to 2nd homes as well as holiday homes.
Traditional in its nature, LV= offer structured lifetime mortgage plans that provide guarantees that most other equity release schemes don’t. Therefore, if you are looking for the security in make repayments or access to drawdown future funds, then LV= Equity Release are a provider to be considered.
Do the high street banks offer lifetime mortgages?
The ‘big 6’ high street banks - that is Halifax, Barclays, Lloyds, HSBC, Santander and Royal Bank of Scotland (RBS) don’t currently offer lifetime mortgages or other equity release plans themselves.
Recently, Nationwide entered the lifetime mortgage market but instead of offering its own range of plans, it refers its members to Pure Retirement
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