At Standard Life Home Finance, we understand how modern equity release specialists like you operate and the challenges you face in a market that is rapidly evolving. That’s why we’ve developed a unique lending approach that can cater to your clients individual needs and circumstances, giving them more options and control over their financial futures.
With Horizon Interest Reward, you can offer your clients a discounted rate on a Horizon lifetime mortgage when they commit to making set monthly payments over a 5, 10 or 15-year term. This new enhancement to the Horizon range represents a positive evolution of a traditional lifetime mortgage, supporting your clients with a product that serves their unique financial needs and circumstances. By securing a discounted interest rate and servicing either 25%, 50%, 75% or 100% of the compound interest over this set time period, your client can significantly reduce their total cost of borrowing.
"By having a product that rewards clients for servicing interest,
it has taken a lot of the hard work away when building trust with clients."
Mike Jones, Later Life Lending Specialist at Mewstone Later Life.
Listen to the full podcast here.
What can Horizon Interest Reward offer your clients?
- Rate discounts of up to 0.45% when your client commits to servicing some or all of their interest over a 5, 10 or 15-year payment term.
- Market-leading features including downsizing protection from day one, 8-year fixed ERCs and an ERC exemption period that never expires.
- Security of tenure even if your clients' circumstances change and they can no longer keep up with payments.
- Freedom to make over-payments from day one of up to 10% of the initial loan amount in a 12-month period without incurring ERCs, in addition to interest payments.
- No income or affordability evidence is required upon application and any missed payments do not contribute to your clients' credit score.
How much could your clients save?
By making monthly interest payments for a specified term, your clients can significantly reduce their total cost of borrowing. Through this commitment to servicing their interest, they are able to access a discounted rate and save themselves thousands in compound interest over the duration of their lifetime mortgage.
“It met all my client’s expectations with the added benefits
brought by the discounted interest rates”
Read the full case study here.