Equity release specialist Home &; Capital says it is still open for business following the acquisition of its parent Sovereign Reversions by Grainger, owner of Bridgewater Equity Release.
Graeme Marshall, chief executive of Sovereign, says Home &; Capital continues to trade as a separate brand within the Grainger group and nothing has changed in the way it deals with customers, advisers and other stakeholders.
He says: “Home &; Capital has always been committed to the growth of the sector and our acquisition by Grainger provides us with the financial strength to develop our services.”
Peter Couch, chief operating officer of Grainger, says the acquisition of Sovereign shows its commitment to the equity release market.
He says: “The enlarged group’s position as a leading equity release provider has been strengthened by this move. Customers and shareholders will benefit from economies of scale, an enhanced ability to access finance and a widening of our distribution and marketing capabilities.”