Phoenix Group buys £300m equity release book from Just Retirement

No changes for policyholders

Jenna Brown
clock • 2 min read

Phoenix Group has bought a portfolio of equity release mortgages worth £300m from Just Retirement.

It said the transaction further cemented its position as one of the UK's largest funders and managers of equity release. The portfolio is made up of mortgaged based assets across the country. It added customers will not need to take any action as their mortgage will not change. Phoenix's Retirement Solutions business, headed up by its managing director Tom Ground, which specialises in equity release and bulk purchase annuities facilitated the transaction. Retirement Solutions is part of Phoenix's growing Open business led by Andy Curran, CEO savings & retirement, UK and Europe. ...

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