Standard Life Home Finance has launched six lifetime mortgage products to the market, taking the total of products on its lifetime mortgage range to 10.

This includes the launch of three new products, as well as the relaunch of three more of Standard Life’s previous offerings.

Available to homeowners between the ages of 55 and 84, the firm’s “Horizon” range has been designed to cater for a range of customer needs, offering both drawdown and lump sum options.  It also offers a range of loan-to values (LTVs), up to 50% for older ages, designed to support those who need to maximise their borrowing.

Standard Life stated that all of the lifetime mortgage products on the range are Defaqto five-star rated and available on loan values between £10,000 and £1.5m, for properties valued between £99,000 and £5.1m.

“As the impact of the mini-Budget starts to recede, we are delighted to be able to launch three new lifetime mortgage products to our Horizon range, as well as relaunch three of our previous lifetime mortgage products,” commented sales director at Standard Life Home Finance, Kay Westgarth.

“Designed to provide customers with the ability to borrow the amount they need while providing as much flexibility as possible, these products will help more customers use their housing equity to improve their finances.

“While we’ve had a good start to the year, we do not intend to rest on our laurels and are constantly looking to improve our service, from the products we offer to how we underwrite them. This launch is a great step forward and reinforces our commitment to the equity release market.”

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