Norwich Union is reducing the interest rates on its Fixed Rate Lifetime Mortgage from 10 January 2005.
Norwich Union is reducing the interest rates on its Fixed Rate Lifetime Mortgage from 10 January 2005.
The fixed interest rate for lifetime mortgages introduced by intermediaries will be 6.87%* (7.30% APR). The fixed interest rate offered by the Norwich Union Personal Finance sales force will be 7.06%* (7.50% APR).
Mark Kelly, director of Norwich Union Personal Finance, said: "Norwich Union is the leading provider of lifetime mortgages in the market and we continually review our interest rates to ensure that they remain competitive."
Press office contacts
David Gwyer 01904 452828 Out of hours 07800 699508
James Evans 01904 452791 Out of hours 07800 699525
Notes to Editors
*Please note, the interest rate shown is the annual rate with interest applied monthly. The yearly cost of the loan is shown as the APR (annual percentage rate).
This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.
- Norwich Union is the market leading equity release provider with a market share of 40% (source Safe Home Income Plans Q3 2004). Full written terms and conditions are available on request. Norwich Union is the UK's largest insurer. It is the UK's largest provider of life, pensions and investment products and one of the leading IFA providers. IFAs provide around 75% of the company's long-term savings business in the UK.
- Norwich Union has strategic alliances with building societies and other leading UK brand names including Tesco Personal Finance and The Royal Bank of Scotland Group. Norwich Union's news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media
- Norwich Union Equity Release Limited No 3286484. Registered at 2 Rougier Street, York, YO90 1UU. Authorised and regulated by the Financial Services Authority.