Bridgewater parent acquires Home & Capital
Share
Equity release specialist Home & Capital says it remains open for business following the acquisition of its parent company, Sovereign Reversions, by Grainger, owner of Bridgewater Equity Release.
Graeme Marshall, chief executive of Sovereign Reversions, says Home & Capital continues to trade as a separate brand within the Grainger group and, as of today, nothing has changed in terms of the way it deals with customers, advisers and other stakeholders.
He says: “Home & Capital has always been 100% committed to the growth of the sector and our acquisition by Grainger provides us with the market position and financial strength to develop further our services to meet the growing and evolving needs of our customers.”
Peter Couch, chief operating officer at Grainger, says the acquisition of Sovereign Reversions and its subsidiary Home & Capital, demonstrates its commitment and positive outlook on the equity release market.
He says: “The enlarged group’s position as one of the UK’s leading equity release companies is significantly strengthened. In addition, both our existing and new customers and shareholders will benefit from the resulting economies of scale, an enhanced ability to access sources of finance and a widening of distribution and marketing capabilities.”
He says all customers, clients and stakeholders of both Sovereign Reversions and Home & Capital should be assured that as of today, everything is business as usual.
He adds: “As we get to know the business better and begin to bring it into the Grainger fold, we will keep everyone informed and seek to balance the needs of all stakeholders.
“We look forward to working with the Sovereign and Home & Capital teams to consolidate further our industry position and take advantage of the excellent growth prospects of the equity release market.”
Readers' comments (1)
Simon Chalk - Equity Release Planner | 10 Aug 2010 1:13 pm
This is good news (Home & Capital had restricted their maximum release & property value earlier this year) as Grainger comfortably has the deep pockets to increase the funding of Home Reversion Plans. On the other hand, it narrow the sector down to 2 players really, as Aviva also rely on Grainger funding, leaving just Hodge with their less popular 90% product. We can only encourage new companies to seek vital backing of private equity as UK residential property looks to offer promising returns in the years ahead. Simon Chalk - Equity Release Planner
Unsuitable or offensive? Report this comment