Legal & General Home Finance has enhanced its lifetime mortgage range.

These improvements include the launch of new pearl product variants to both its flexible and optional payment lifetime mortgages.

The company says the new range has lower LTVs and interest rates than those available from its current product range.

The changes follow L&G’s decision to allow new flexible lifetime mortgage customers the option of making up to 12 repayments each year, up from four.

L&G recently launched new features, including an extension of the offer validity period to 90 days and a reduction to the minimum drawdown amount to £1,000.

L&G Home Finance chief executive Craig Brown says: “We are constantly looking at ways to innovate and drive good customer outcomes for people looking to benefit from accessing their property wealth.

“These improvements to our later life lending range are in direct response to adviser feedback and reflect customer needs in this fast-paced market.”