Standard Life Home Finance has added two new loan-to-value (LTV) products to Horizon, its flexible lifetime mortgage range. 

The new products include Horizon 780 and Horizon 800, which will offer maximum LTVs of 55% and 56%, respectively.

Horizon 780 and 800 will be available to homeowners between the ages of 55 and 84.

The Horizon range, which offers both drawdown and lump sum options, is applicable on loan values from £10k-£1.5m for properties valued between £99k-£5.1m. 

The new plan options both include partial capital repayments from day one, fixed early repayment charges (ERC) for eight years, unrestricted ERC exemption on death/admission to the long-term care of the first borrower and inheritance protection where less than 50% of the maximum LTV is taken.

It also includes the ability to repay the policy without being charged an ERC if the client chooses to move to a property that is not suitable for equity release. 

Standard Life Home Finance head of sales Kay Westgarth says: “Having launched in October 2021, these are the first new additions to our product portfolio which will help us serve a wider range of customers who need higher LTVs.”

Westgarth adds: “This launch is a great step forward and clearly underlines our strategy to provide customers with a life of possibilities by focusing on innovative support for the advisers that we work with.”