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NU to launch equity release cash reserve option

Norwich Union is to launch an equity release cash reserve option in mid-July 2006 which will offer more flexibility for customers.

The option within its lifetime mortgage allows customers to release an initial amount of money from the value of their home and then allowing them to access more money over ten years.

Further details of the option will be announced nearer to its launch.

Director of sales and marketing Darren Carter says: “The launch of the cash release option complements NU’s range of equity release plans and reflects customers demand for greater flexibility. In the past, product innovation has driven the growth of the equity release market and as the market leader it is NU’s goal to remain at the forefront of these developments.”


Ex-Revenue pension chief to give talks

The former public face of the Revenue’s pension simplification team Les Shaw will be taking part in two Intelligent Pensions roadshows. Shaw, formerly on the Revenue’s audit and pension scheme services team, will be speaking in Birmingham and Loughborough.

Carpetbagger warns on low initial price

Renowned carpetbagger Fred Woollard has called for Standard Life to ensure that the firm’s initial share price is not set too low. Woollard sent a representative to the special general meeting last week to request Standard Life’s advisers UBS and Merrill Lynch not to underprice the new shares. He is concerned that shares could be […]


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