Saffron Building Society pulls out of equity release

 A statement from the lender says it has temporarily withdrawn from lending following a successful year of lending in which 2009 targets have now been met. The statement adds: "Withdrawing from the market at this time will ensure that Saffron's lending portfolio remains balanced and within our lending strategy. This careful portfolio management is key to retaining Saffron's strong capital position and is therefore in the best interests of our members." It adds equity release presents a growth opportunity for lenders and it will review its options in 2010. The news comes months afte...