Newlife launches home reversion plans

Equity release provider Newlife has launched two new home reversion products.

The move into the home reversion market is combined with a rebranding from to Newlife – home related finance.

The change reflects the company’s expansion into sectors other than lifetime mortgages.

Last week the company it will offer residential mortgages to the over 40s from next month.

There are two home reversion plans available from where the entire property is sold or just part of it.

For both the products the amount of cash released can range from £25,000 to £250,000.

Peter Lucas, chief executive of Newlife, says: “The extension of our portfolio enables us to provide a more comprehensive offering, and meet a wider range of financial requirements.

“We deal exclusively through intermediaries and our new home reversion plans have been developed in response to feedback from advisers. This enhances our offering in the equity release sector and demonstrates our long-term commitment to this growing market.”