Norwich Union, the market leading provider in the equity release sector, announces today that it is to improve its home reversion plan.
Norwich Union, the market leading provider in the equity release sector, announces today that it is to improve its home reversion plan. It is:
- Reducing the minimum loan size from £25,000 to £15,000.
- Increasing the maximum loan amount a customer can release from 56% to 59%.
These changes allow customers to take a more flexible approach to their home reversion policy by being able to take out a smaller loan amount or by allowing them to release a higher percentage of their property value.
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Press office contacts:
David Gwyer 07800 693187
Notes to editors:
About Norwich Union
Norwich Union is the UK's largest insurer. 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 is the UK's largest general insurer with a market share of around 14%, with a focus on insurance for individuals and small businesses.
Norwich Union's news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media
Home Reversion Enhancements
- The new Home Reversion scales will apply to all applications received on or after the 13 May 2008.
- Loan to value scales depend upon a number of factors.