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Norwich Union – Equity Release (inserted 29/11/99)

Flexible Cash Release Plan



Type: Equity release scheme aimed at the over 60s.



Minimum property value: £60,000.



Minimum-maximum loan: Minimum of £10,000, subject to a minimum of 10% of the property value. Maximum of £500,000, subject to a maximum of 45% of the property value.



Interest rate: 7.85%.



Minimum-maximum age: Minimum 60, no maximum.



Charges: Valuation fee £165 minimum. Application fee £500.



Commission: Initial £150 fee plus 0.5% of advance. Further advances 0.5% of advance.



Tel: 0845 3001622.

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