Norwich Union has responded to Nationwide's prediction that equity release will be the next misselling scandal, saying the comments are alarmist and do not paint a fair picture of a growing market.
Personal finance director Mark Kelly says: “Equity release plans do have their place but, like any other financial product, will not be suited to everyone. It is dangerous and harmful to assert that because equity release plans are sold to the over 55s, that they are being missold.”
Comments