NU equity release plan

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Norwich Union is launching an equity release scheme aimed at those over 60 which will unlock up to 5...

Norwich Union is launching an equity release scheme aimed at those over 60 which will unlock up to 50% of the value of a policyholder's home. The Flexible Income Release Plan enables home owners to take out a loan on their property, combining the group's Flexible Cash Release Plan with its immediate life annuity. This will allow the over 60s homeowner to buy an income for retirement. The product is for properties worth between £60,000 and £500,000. Daren Carter, marketing manager at Norwich Union, said: "Many people in or nearing retirement age are sitting on a nest egg and this scheme al...

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