Norwich Union has joined the Premier Mortgage Services panel, in a move that will see the Aviva-owned insurer offer specialist IFA rates to all members of the panel.

The IFA rates that Norwich Union will offer to all premier mortgage services (PMS) subscribers currently stand at 6.4% for fixed-rate lifetime mortgages and 6.45% for the cash reserve option.

Dominic Fraser-Smith, marketing manager at Norwich Union for post retirement products, said: We are delighted to join the PMS mortgage panel and to offer specialist rates to all members. This move will provide a mutually beneficial relationship for us and advisers on the panel. We look forward to a productive relationship with them going forward and hope to expand our offering with them in the future.

John Malone, managing director at premier mortgage service, added: It is great news to have Norwich Union joining our panel. At PMS we currently complete in excess of 20% of the new business submitted in the equity release intermediary market, so we’re delighted to have a market-leading provider in this area on board. The specialist rates from Norwich Union should also be great news for our members and we look forward to working with them going forward.