Prudential have launched an equity release plan in Northern Ireland appealing to homeowners aged 55 to 84.
This equity release plans in one – it’s a lump sum deal and a drawdown product together called the Increasing Cash Reserve plan.offers two
It enables homeowners to guarantee an inheritance of 10-20% of the existing value of their home without affecting the amount of equity they can release through the plan.
The drawdown plan allows them to release an initial lump sum, and then further funds of at least £3,000 each year, or they can just release one lump sum at the start.
Keith Haggart, director of lifetime mortgages at Prudential, says: “We believe that a growing number of retired homeowners will be interested in releasing some of the equity in their homes and our proposition offers some of the greatest flexibility for doing this in the market.”*
Of course, as the UK’s leading over-the-phone advisor, Age Partnership can access you preferential terms on all lifetime mortgages from Prudential, including a unique plan with no set-up costs and up to £1095 cash back for the customer!