Scottish Widows Bank enters equity release market

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.”