Following the successful launch in October 2005 of its flexible lifetime mortgage product, Prudential is celebrating the first anniversary with news that it is aiming for a 10 per cent market share by the end of 2006 in just 12 months of entering the market.
Ali Crossley, Director for Lifetime Mortgages at Prudential comments: “Equity release products give consumers more options for retirement and allowing people greater choice was always our number one priority.”
With the average pension pot expected to be £25,000 it is clear that people are looking for alternative ways to supplement their retirement income
As part of Prudential’s ongoing commitment to consumers, this month sees the launch of a new direct face-to-face lifetime mortgages sales force.
Chris Robinson, Director of the Face-to-Face division at Prudential commented: “The demand for lifetime mortgages is currently high and there is a general acceptance within the industry that there is insufficient supply of specialist face-to-face advisers. There is only a small select group of specialist advisers who can offer face-to-face advice and we feel the time is right to add to the numbers in the marketplace and offer an additional service.”