Interest-only mortgage customers of NatWest will be offered Legal & General Home Finance’s lifetime mortgages
17 Dec 2018
The agreement will see Legal & General offer its lifetime mortgages, including its Optional Payment Lifetime Mortgage (OPLM) as a potential solution for NatWest interest-only borrowers aged 55 and above who are at the end of their mortgage term and unable to repay their loan. The agreement adds to existing arrangements with Virgin Money, Santander and The Co-operative Bank.
NatWest will offer interest-only customers who may benefit, the opportunity to speak with Legal & General’s specialist partner for advice on whether a lifetime mortgage would be suitable for them. As well as NatWest customers, other Royal Bank of Scotland customers will also be included in the scheme.
Steve Ellis, CEO, Legal & General Home Finance: "We are committed to raising awareness about the transformative impact housing wealth could have to help these borrowers, enabling them to pay off their mortgage debt and enjoy the retirement they’ve always wanted, while remaining in the home they love. We’re delighted to be collaborating with NatWest..."