Article date: 11 January 2005
Norwich Union is reducing the interest rates onits Fixed Rate Lifetime Mortgage from 10 January 2005.
The fixed interest rate for lifetime mortgagesintroduced by intermediaries will be 6.87%* (7.30% APR). The fixedinterest rate offered by the Norwich Union Personal Finance salesforce 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 themarket and we continually review our interest rates to ensure thatthey remain competitive."
Press office contacts
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James Evans 01904 452791 Out of hours 07800 699525
Notes to Editors
*Please note, theinterest rate shown is the annual rate with interest appliedmonthly. The yearly cost of the loan is shown as the APR (annualpercentage rate).
This is a lifetime mortgage. To understand thefeatures and risks, ask for a personalised illustration.
- Norwich Union is the market leading equity release provider witha 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'slargest provider of life, pensions and investment products andone of the leading IFA providers. IFAs provide around 75% of thecompany's long-term savings business in the UK.
- Norwich Union has strategic alliances with building societiesand other leading UK brand names including Tesco PersonalFinance and The Royal Bank of Scotland Group. Norwich Union'snews releases and a selection of images are available fromAviva's internet press centre at www.aviva.com/media
- Norwich Union Equity Release Limited No 3286484. Registered at2 Rougier Street, York, YO90 1UU. Authorised and regulated by theFinancial Services Authority.