Norwich Union is raising the interest rates on its Cash Reserve Option and Fixed Rate Lifetime Mortgage plans from Monday 12 February 2007.
Norwich Union is raising the interest rates on its Cash Reserve Option and Fixed Rate Lifetime Mortgage plans from Monday 12 February 2007.
The typical interest rate on the Cash Reserve Option introduced by Norwich Union’s direct salesforce will be raised from 6.65% to 6.8%. The overall cost for comparison is 7.2%APR. The Interest rate of Fixed Rate Lifetime mortgages will rise from 6.6% to 6.65%. The overall cost for comparison is 6.9% APR.
All pipeline cases that are offered on or after Monday 12 February will be subject to the new interest rates.
-ends-
Press office contacts:
David Gwyer 01904 452828 Out of hours 07800 699508
Louise Soulsby 01904 452617 Out of hours 07800 699526
About Norwich Union
*Please note that the interest rate shown is the annual equivalent rate. 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.
The actual rate available will depend upon the customer’s circumstances. Ask for a personalised illustration.
- Norwich Union is the UK’s largest insurer. It is a leading provider of life, pensions and investment products and one of the largest Financial Adviser (FA) providers. FAs provide over 70% of the company's long-term savings business in the UK.
- Norwich Union is the UK’s largest general insurer with a market share of around 14%, with a focus on insurance for individuals and small businesses.
- Norwich Union’s news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media