Canada Life enhances Capital Select options

  • LTV’s increased by up to 1% on Capital Select Gold Plus, Capital Select Platinum and Capital Select Platinum Plus
  • Rates reduced on Capital Select Gold Plus


Canada Life is today announcing rate reductions of 0.20% AER to its range of Capital Select Gold Plus products, effective immediately. It is also increasing the LTVs by up to 1% for a number of its Capital Select products.

The new LTVs now reach 46% at age 70 for its Capital Select Platinum Plus product. Across each updated product the LTV changes range from 0.5% to 1%. The Capital Select product range allows customers to borrow up to £1 million against their property and make payments from as little as £50 to a maximum of 10 percent of the initial loan amount each year without incurring an early repayment charge (ERC). Payments can also be made as frequently as customers wish.  

With reductions of 20 bps, the rates on the Capital Select Gold Plus options are now as follows:


New rate (AER)

Previous rate (AER)


Capital Select Gold Plus




Capital Select Gold Plus (Flexible)




Capital Select Gold Plus (Cashback)





Alice Watson, head of marketing, Insurance, Canada Life, said: “We’re pleased to announce a series of changes to our Capital Select Options, one of our lifetime mortgage product ranges. The flexibility and certainty offered by the Capital Select Options range gives customers real peace of mind, while the cashback option is a means of support that can be put towards legal and adviser fees.

“As with all our lifetime mortgage products, this product range allows people to continue living in their homes, while releasing the money tied up in their property. The potential unlocked capital can help retirement plans, pay for home improvements or even help fund lifestyles.”

All Canada Life Lifetime Mortgage products come with optional inheritance guarantee protection and have a no negative equity guarantee.