The value of equity release policies sold by Just Retirement increased marginally in the first quarter, compared to the corresponding period of 2008.
The firm, which has published its new business figures for the quarter, confirmed that £37.4m of advances were sold, up from £37.1m last year. In addition, the sales for the nine months up to March totalled £119.2m, up from £111m the preceding year, a jump of 7.4%.
Just Retirement noted demand for equity release mortgages remained satisfactory, though it is running below the recent record levels.
The Group has recently replaced its 'fee free' product with a 'refunded valuation on completion' offer, which it said had been well received by the marketplace.
Mike Fuller, chief executive of Just Retirement, commented: "Just Retirement goes into the final quarter of its financial year with confidence. We have maintained our leadership position in enhanced annuities and our place as a top three provider of equity release mortgages.
"That this was all achieved against a highly challenging background is a testament to the robustness of the business model and the calibre of our people. I remain confident in the outlook for the current financial year."
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