Just Group is introducing personalised interest rate and LTV options across its Just For You range of Lifetime Mortgages, raising the bar for flexibility and choice in the equity release market.
The brand new service available across the Just For You range ensures intermediaries can now tailor a lifetime mortgage to each individual client, offering the opportunity for them to secure more competitive interest rates and increased LTV.
Just Group was the pioneer that positively disrupted the Guaranteed Income for Life market by introducing medical underwriting that ensured retirees maximised the income from their pension savings, with an estimated two-thirds receiving rates that were more competitive than non-medically underwritten offers.
Expanding medical underwriting within the equity release sector leverages Just Group’s unrivalled depth of medical and mortality data and superior intellectual property to extend those benefits to more borrowers in later life. Based on its market leadership in the Guaranteed Income for Life market, Just estimates around 6 in 10 lifetime mortgage customers could achieve better outcomes from having their lifetime mortgage application medically underwritten.
“This could mark the beginning of the end for standard Lifetime Mortgage interest rates,” said Stephen Lowe, group communications director at Just Group. “Rather than telling clients what the rate is and the limit of how much they can borrow, advisers will increasingly be able to discuss a client’s own unique rate and available borrowing based on their individual medical conditions and lifestyle factors.”
