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Catch up with the latest press releases from LV=

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LV= reduces Interest Rate

Press release: 15/08/2008

Recently launched product now more competitive for homeowners

Two property re-valuations included

Retirement specialist LV= has reduced the rate of interest on its newly launched Flexible Lifetime Mortgage. With effect from 14th August 2008 the rate of interest, which is fixed for the lifetime of the loan, has been lowered by 0.2% to 6.75%. The overall cost for comparison is 6.9% APR.

Homeowners between the ages of 60 and 95 can draw down a minimum amount of £10,000. Additional withdrawals of at least £2,000 can be made, up to the maximum Loan To Value (LTV) amount, making the LV= Flexible Lifetime Mortgage one of the most adaptable options on the market.

In addition, the new equity release product also includes two further property re-valuations throughout the lifetime of the loan, which means that if the property is valued at a higher amount in future, homeowners can take advantage of the house price changes and draw down additional income from their home. The product also comes with a No Negative Equity Guarantee which means that both the customer and their beneficiaries will never have to pay back more than the value of their home on death or permanent entry into long term care.

Vanessa Owen, Head of Equity Release at LV=, comments: "The current economic climate, along with falling house prices, is influencing the number of people who are choosing to stay in their homes, rather than downsizing. Our Flexible Lifetime Mortgage offers homeowners a 15-year guarantee on the maximum loan amount that can be drawn down. This means that whatever happens to interest rates and property prices, homeowners have the peace of mind of knowing that throughout this period they can access the total amount agreed at the outset."

LV= is a member of the Safe Home Income Plans (SHIP) body.

For more information about the Flexible Lifetime Mortgage from LV=, as well as its full range of retirement products and solutions available, financial advisers can visit: .

LV= and LV= Liverpool Victoria are registered trade marks of Liverpool Victoria Friendly Society Limited and LV= and LV= Liverpool Victoria are trading styles of the Liverpool Victoria group of companies. The new LV= brand identity was launched in March 2007.

LV= employs more than 2,000, serves more than 2.5 million customers and members, and manages more than £8 billion on their behalf. We are also the UK's largest friendly society (Association of Friendly Societies Key Statistics 2007. Total net assets) and a leading mutual financial services provider.

LV= is a member of Safe Home Income Plans (SHIP) and the Council of Mortgage Lenders (CML).

Liverpool Victoria Friendly Society Limited (LVFS) is authorised and regulated by the Financial Services Authority and entered on the Financial Services Authority Register, No. 110035. LVFS is a member of the ABI, AFS and ILAG. Registered address: County Gates, Bournemouth, BH1 2NF.

The Flexible Lifetime Mortgage is offered and administered by LV Equity Release Limited (Registered in England no. 1951289). Authorised and regulated by the Financial Services Authority, register No. 306287. Registered address: County Gates, Bournemouth BH1 2NF. Tel: 01202 292333.