- DB/Final Salary pension schemes de-risking -buy-ins, buy-outs, longevity insurance
- Alternative de-risking solutions – APP, ISS
- Pension scheme administration
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(UK, USA, Canada, Bermuda and Ireland)
Legal & General Home Finance announces new partnership with Virgin Money
Legal & General Home Finance has today announced a new 5-year partnership agreement with Virgin Money that will see the retirement lender offer its lifetime mortgage product range to the bank’s interest-only customers aged 55 and over.
6 Aug 2018
Press release (PDF 203KB)
![Virgin money exterior Virgin money exterior](/media/3pdihhio/virgin_money.jpg?width=1540&height=866&format=webp&quality=100&v=1db521679c9fb80)
image credit: moneybright.co.uk
Today’s arrangement adds to the existing partnerships with Santander and The Co-operative Bank and now sees Legal & General making its range of lifetime mortgages directly available to 20% of the UK’s interest-only mortgage customers1.
The new partnership is also part of Legal & General Home Finance’s wider strategy to improve customer access to retirement lending solutions. This approach includes helping to address the interest-only shortfall by driving innovation in the market with products, such as the Optional Payment Lifetime Mortgage, and also by bridging the gap between mainstream mortgages and retirement borrowing. Legal & General will be encouraging more intermediaries to enter the market and include property wealth in the retirement planning conversation.
1 https://www.ukfinance.org.uk/interest-only-mortgages-a-shrinking-target/
Steve Ellis, CEO, Legal & General Home Finance: "Lifetime mortgages are already having a hugely positive impact on our society, and at Legal & General we are committed to raising awareness about the transformative effect these products could have for many of Britain’s retirees."
Further information
![margrit margrit](/media/kehf4ydl/margrit.png?width=1000&height=1000&format=webp&quality=100&v=1db374d26597d10)