Newcastle BS lays off equity release advisers

Falling equity release volumes, prompted by the economic downturn, have made the sector uneconomical, the society says. Newcastle Building Society Equity Release Service (NBSERS), which advises consumers on equity release products, will be closed by the end of the year. In a statement today, Newcastle Building Society says: "The recent economic turbulence has led to a considerable contraction in the equity release sector which has led to the decision that NBSERS, which provides advice to clients considering taking out equity release, is no longer a viable option at this time." Five...