The product offers interest rate discounts to clients who choose to make regular payments.

The average house price value among new lifetime mortgage customers has risen nearly five times as fast as the national average.

For the first time, there is a preference for drawdown over lumpsum plans among new customers.

Rates have reduced by up to 0.29%.

The tool lists payment schedules, interest roll-up and the total amount borrowed/owed throughout the loan term.

The new reductions apply to LiveMore 2, 3 and 4 products.

Scott Burman, head of distribution at Pure Retirement, explores the differences between interest serviced lifetime mortgage and optional repayment lifetime mortgages and how advisers...

An interest serviced lifetime mortgage rewards customers with an interest rate discount while they make monthly payments on their lifetime mortgage.

The client is free to repay their lifetime mortgage in full at any point without incurring an ERC.

Members can now become Later Life Lending Accredited Advisers.