Norwich Union is raising the interest rates on its Cash Reserve Option and Fixed Rate Lifetime Mortgage plans from Monday, February 12, in the UK.
The typical interest rate on the Cash Reserve Option introduced by Norwich Union’s direct sales force 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.