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Retirement Plus gears up again with further advances

Retirement Plus is now offering further advances.

But Duncan Young, managing director at Retirement Plus, says it is unlikely to return to lending for a while.

The home reversion provider was forced to close its doors and suspend new lending in April 2009 after the number of applications it received outweighed its funding line.

Young tells Mortgage Strategy it is nice to “get the machine cran-king again, issuing Key Facts Illustrations” but says that while the market had improved it will not be returning to lending just yet.

He says: “We’ve got a few hoops to jump through first, but we’ve got to start somewhere.”

Last week saw the return of More 2 Life, the specialist lending arm of Key Retirement Solutions.

It re-entered the equity release market with funding from insurer and annuity provider Partnership.

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