Mortgage Express re-prices lifetime mortgages

Published: January 28, 2008

Mortgage Express has re-priced its lifetime mortgages, with the lender claiming that the products now represent some of the best buys in the sector.

Its Lifetime Mortgage offering now has a permanent fixed rate of 6.29 per cent, as well as a £599 product fee, with the deal available for up to 45 per cent loan-to-value (LTV).

The alternative Lifetime Mortgage Extra includes a life-long fixed rate of 6.55 per cent, with the product fee again set at £599, while an LTV of up to 55 per cent is permitted.

"Our best-buy lifetime mortgages are ideal for customers aged 60 or above who are looking to unlock equity from their homes," claimed Kirsty Jackson, head of lifetime mortgages at the lender.

"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," she added.

"Neither of our lifetime products has an upper age limit in place, enabling older customers to take advantage of the great rates on offer too."