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Prudential is to pull out of the equity release sector

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Prudential will stop writing new lifetime mortgage business early next year.


Prudential follows a lengthening list of equity release providers to pull out of the market - Northern Rock, Saffron Building Society, Coventry Building Society and Retirement Plus, plus In Retirement Services who have gone into administration.


Aviva, Just Retirement, and LV= are the main players still writing new business.


Equity release was once trumpeted as a way of paying for long term care, until the house price crash reminded us that there is no law that says house prices must always rise.


Equity release is not a good way of paying for long term care.


Long term care: News update: 29 November 2009


Related links


  • Find out more about long term care insurance


  • Get a quote for long term care insurance