"We are delighted to be supporting and funding these new Horizon lifetime mortgage products, branded Standard Life Home Finance, through our strategic partnership with Key Group."
Funded by Standard Life, and designed and provided by Key Group, the Standard Life Home Finance ‘Horizon’ range of lifetime mortgage products includes drawdown and lump sum options.
Rates start from 3.28% with a maximum loan value of £1,500,000, but higher value cases will be considered.
Standard Life offers partial repayments of up to 10% of the initial loan amount can be made over each twelve-month period with incurring any early repayment charges and no-negative equity guarantee and inheritance protection is available.
From day one, customers will not be liable to pay an ERC if they move to a property that does not meet the underwriting criteria or if one of the borrowers dies or goes into long term care.
In September this year, Standard Life and Key Group announced a strategic agreement, enabling Key Group to use Standard Life Home Finance under a brand licence agreement. The Horizon range of products will be provided by Key Group and will use their platforms.
Tom Ground, managing director of retirement solutions at Standard Life, said: “As we continue to drive forward our growth ambitions for the Standard Life business, we are delighted to be supporting and funding these new Horizon lifetime mortgage products, branded Standard Life Home Finance, through our strategic partnership with Key Group.
“Now more than ever, people are finding their needs are changing and it’s important to us that we deliver this range of products which provide flexibility and value, and ensure people aren’t penalised financially if their circumstances change through no fault of their own.
“We are especially proud that the Horizon range has secured a 5* rating from Defaqto and are confident that with the Standard Life name, innovative approach to early repayment charges and competitive rates, advisers will find that these products meet a wide range of customer needs.”
