Saga doubles equity release market share
Share
Saga claims it has doubled its share of the equity release market after increasing its business by 126%.
The organisation says its number of equity release completions increased by 126% between the first nine months of 2010 and the first nine months of 2011, while its market share more than doubled over the same period.
It says the growth is down to the success of its no upfront fees equity release product and trusted brand status, and that it expects its market share to continue to increase.
Roger Ramsden, chief executive of Saga Services, says: “The demographic shift and the continuing erosion of the value of pensions means homes are becoming more than just an individual’s biggest asset - they are now also a potential source of funds to help them live the life they would like in retirement.
“It would appear that the immense depth of trust and belief in the Saga brand, as well as our commitment to ensuring the products and services we provide are designed with our customers at the heart, is paying dividends.
“Our customers feel comfortable considering financial concepts, such as equity release, because they trust our business and our brand knowing that they will receive the service and support they need to make an informed decision.”
If you enjoyed this article, sign up here to receive daily email updates from Mortgage Strategy and Follow @mortgagestrat
