Just has announced it is making changes to its lifetime mortgage products to help both customers, and beneficiaries of its customers, who are unable to sell properties amid the ongoing lockdown.
The retirement specialist said it is giving “hundreds of pounds” back by reducing its lifetime mortgage rates on the properties of customers who have died or have moved into long-term care during the coronavirus crisis.
For customers who had properties to sell on or before 26 March, Just has revealed its changes will be backdated to this date – when the housing market was effectively closed following the Government’s guidance to stay at home.
Just managing director retail, Paul Turner, commented: Many of our customers are unable to sell their poverties as the Government lockdown has effectively closed the housing market.
“We don’t have the power to open the housing market but we can help our customers and their families by giving them hundreds of pounds on average.”
The retirement specialist added that it will implement the changes from 26 March for up to three months, and will be keeping the policy under review.
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