Norwich Union has launched a pilot downsizing programme for customers who do not want a full equity release product.
The provider will offer people aged 55 and over the choice of an Assisted Move package whereby Norwich Union will manage all aspects of their house sale and the Optional Fund Release service where the company would arrange a quick purchase. Norwich Union estimates customers would receive their funds in 12 weeks through the Assisted Move option or about four weeks using Optional Fund Release. On the open market, it takes between four and eight months to sell a house and 900,000 homeowners fail to sell their properties each year, according to theadvisory.co.uk. Anthony Rafferty, head of ma...
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