Partnership loans Retirement Plus £272m

The loan is specifically to refinance Retirement Plus, a subsidiary of Milton Homes, which suspended new business in April 2009 as it tried to secure more funding from Royal Bank of Scotland. Of the loan, 75% will be invested in the business and 25% will be spent paying back bank debt. "This deal demonstrates Partnership's continued commitment to the equity release market," says Andrew Megson (pictured), managing director of retirement at Partnership. "Over the years, Milton Homes has demonstrated its qualities as an innovative business, operating to the highest standards of integr...