Norwich Union is to launch an Equity Release Cash Reserve Option in mid-July 2006.
Norwich Union is to launch an Equity Release Cash Reserve Option in mid-July 2006. It is a lifetime mortgage that enables customers to release an initial amount of money from the value of their home and allows access to more money over 10 years.
Daren Carter, director of sales and marketing at Norwich Union Personal Finance, said: "The launch of the cash release option complements Norwich Union's range of equity release plans and reflects customers’ demand for greater flexibility. In the past, product innovation has driven the growth of the equity release market and as the market leader it is Norwich Union's goal to remain at the forefront of these developments."
Details of Norwich Union Equity Release Cash Reserve Option will be announced nearer launch.
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Notes to editors:
- Norwich Union is the largest insurance services provider in the UK. It is a leading provider of life, pensions and investment products and one of the largest Financial Adviser (FA) providers. FAs provide over 70% of the company's long-term savings business in the UK.
- Norwich Union has strategic alliances with building societies and other leading UK brand names including CIS and The Royal Bank of Scotland Group. Norwich Union's news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media