Retirement specialist LV= has entered into a new partnership with distribution network Intrinsic Financial Services to promote its recently launched equity release product - Flexible Lifetime Mortgage.
LV= has been added to Intrinsic’s panel of equity release providers, giving the network’s 1,300 members access to the equity release products on the market.
The Flexible Lifetime Mortgage from LV= allows homeowners to draw down funds from the equity in their home, including a 15-year guarantee on the maximum amount. The product also includes a no negative equity guarantee.
Financial advisers are now able to obtain a flexible draw down offering for their clients, enabling them to benefit from a product which meets consumer needs. Intrinsic clients between the ages of 60 and 95 can draw down a minimum amount of GBP10,000 with additional withdrawals of at least GBP2,000 available up to the maximum loan-to-value amount.
Stuart Tragheim, distribution strategy and business development director at LV=, said: Intrinsic is one of the most successful new distribution networks, and working with them really is a boost for us, enabling more advisers to have access to our innovative product solutions for their clients.