NU sees 87% customer satsfaction

Norwich Union is experiencing 87% customer satisfaction with its equity release products.

The customers said they are extremely or very satisfied with the service they received.

NU says this is reflected in the fact that only about one in five of the thousands that approach NU for equity release go on to take out a plan.

Anthony Rafferty, head of marketing – post retirement for Norwich Union, says: “We are delighted by these figures; there certainly are not many companies that can say more than 87% of customers have such high satisfaction levels with the service and products they receive.

“One of the reasons for success is that we have a rigorous advice process and do not recommend equity release to potential customers unless it is right for them.

“Equity release can be an excellent way to release money from a home, but for others it isn’t necessarily the best option. For example, we would advise against it if we find that a person has other sources of income, would prefer to move to a smaller house, or they could lose benefits and be worse off financially after taking out a scheme.”