L&G has removed the requirement for one borrower to be employed when applying for PTLM.

The Emerald lifetime mortgage range now offers reduced rates, LTVs up to 47%, and a maximum age of 90.

Paying off debts and mortgages has fallen to the lowest recorded level of 21%.

An applicant aged 70 can access LTVs up to 38%, and applicants from age 80 can access LTVs up to 48%.

The products are the first to be launched by Responsible Lending since Royal London acquired the Responsible Group.

The pricing approach offers customers rates specific to their circumstances.

Customers can access higher LTVs and lower borrowing costs, bridging the divide between equity release and mainstream mortgages.

Legal & General Home Finance has adopted finova's Optimo decisioning solution.

The product bridges the gap between full interest serving mortgages and full roll-up lifetime mortgages.

more2life has committed to a 48-hour turnaround as part of the new service.