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Equity release market needs greater competition, says NU

Norwich Union says the equity release market needs more high street providers, greater competition and a wider range of products if it is to continue growing.

Daren Carter, director of sales and marketing at Norwich Union Personal Finance, says: A Social Market Foundation report into the equity release market [commissioned by Norwich Union] said that if the market is to grow, consumers need to be more aware of equity release and big name brands need to enter the market bringing a wider range of products and increased competition.

Consumer confidence in equity release products will increase demand and encourage high street banks and building societies to enter the market.

This will bring greater product innovation and competition to the consumers benefit.

As the equity release market grows, more people will realise that it is one of the tools that can be used to fund retirement.


Filling the widening gaps in the NHS

People living in England suffering from the blood cancer multiple myeloma will no doubt feel rather hard done by, given the guidance the National Institute for Health and Clinical Excellence issued recently.

Northern Rock increase variable rates

Northern Rock is increasing its variable mortgage rates following the increase in the Bank of England Base Rate on 3 August 2006.For Northern Rock borrowers whose loans qualify for a loyalty discount after seven years, the new Loyalty Rate will be 6.59% per annum with effect from September 1 2006 following a 0.25% discount off […]

GHL Group to appoint four new staff

Guaranteed and Genesis Home Loans are to appoint four new members of staff including a Head of Packaging key management position.Levels of business handled by GHLs packaging arm have increased since the launch of the groups web-based online Decision In Principle service, which saw two new members of staff join its placements team earlier in […]

AToM adds edeus to lender panel

All Types of Mortgages has welcomed lender edeus into the market place by joining its circle of trust packager panel. AToM is one of the first 15 firms to join the panel. and will have access to edeuss product range once it is launched in early September. Richard Hearn, managing director at AToM, says: “The […]


Pension over-taxing

800,000 people are at risk of being over-taxed on their pensions, writes Steve Webb, director of policy at Royal London Hundreds of thousands of people receiving company and personal pensions should check their tax code to make sure that they are not being over-taxed, according to a leading pensions firm. Mutual insurer Royal London has […]


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