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Rock set to white-label Pru equity-release plan

Prudential is believed to be close to a deal with Northern Rock which

will see the Pru white-labelling the bank&#39s equity-release product

and selling it as its own.

As reported in last week&#39s Money Marketing, the Pru is believed to be

launching into the equity-release market poss-ibly by the end of this

month.

Rather than designing its own product, the Pru is thought to be

opting to use Northern Rock, a respected player in the equity-release

market. IFAs have questioned the Pru&#39s motivation, wondering why it

has not designed its own product rather than import from another

provider.

As also revealed in Money Marketing last week, Pru and Northern Rock

are preparing to launch a combination investment product linking its

with-profits bond and deposit account.

An unnamed IFA says: “They really are being cautious going down the

white-labelling route rather than designing their own product. How do

they think they are going to sell it with the Pru brand name more so

than with the Northern Rock brand name? I can see why Northern Rock

would be interested but I do not understand the Pru.”

Northern Rock would not comment. Prudential says it does not comment

on market speculation or rumour.

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