Scottish Widows Bank enters equity release market
Scottish Widows Bank has announced that it is piloting an equity release mortgage product.
"Offering a mortgage with the option to unlock some of the equity in their property gives customers greater choice to help make the most of their assets in retirement."
The product is initially being trialled through Age Partnership, and Scottish Widows confirmed that they are shortly looking to expand the pilot through The Equity Release Experts, part of Key Group.
Claire Scott, head of business development at Scottish Widows Bank, commented: “As part of our ongoing commitment to the mortgage market, we continually review our offering, introducing new products and services as customer needs continue to change.
“People are living and working for longer, and as a result they are also facing new choices when it comes to planning for their financial future.
“Offering a mortgage with the option to unlock some of the equity in their property gives customers greater choice to help make the most of their assets in retirement.”
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
FCA
Firms required to report complaints involving vulnerable customers under simplified FCA rules
Santander
Santander joins mortgage price war with new rates from 3.51%
FCA
FCA sets out timeline for mortgage rule changes
State Pension
Budget: Government signals income tax write off for state pensions exceeding personal allowance
This week's biggest stories:
FCA
Firms required to report complaints involving vulnerable customers under simplified FCA rules
Santander
Santander joins mortgage price war with new rates from 3.51%
FCA
FCA sets out timeline for mortgage rule changes
State Pension
Budget: Government signals income tax write off for state pensions exceeding personal allowance
FCA
FCA announces new measures to support growth of mutuals sector
Nationwide
FCA fines Nationwide £44m for inadequate financial crime controls
