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Equity release schemes: Innovative flexible lifetime mortgage

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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.”

 

 

Related links

  • Overview of long term care plans

 

  • Enquire about long term care plans

 

  • Property Value Release Plan from Prudential

 

 

Long term care, equity release : News update: October 2006