New Equity Release Mortgages introduced by Mortgage Express
Mortgage Express has introduced a new equity release, fixed rate lifetime mortgage deal.
The mortgage deal consists of a 6.29% interest rate with an arrangement fee of £599. The disadvantage to this product is that it is only available on loans of up to 45 per cent of the property’s value.
This mortgage deal is targeted to the elderly and for people who need a slightly larger loan to value of up to 55 per cent; Mortgage Express’s Lifetime Mortgage Extra has a fixed rate of 6.55 per cent including an arrangement fee of £599.
Head of lifetime mortgages at Mortgage Express, Kirsty Jackson commented: ‘our best-buy lifetime mortgages are ideal for customer’s aged 60 or above who are looking to unlock equity from their homes. By opting for a highly competitive interest rate that is fixed for the life of the loan, customers gain peace of mind because they know precisely what their commitment will be at any time in the future. Neither of our lifetime products has an upper age limit.’
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