The Nationwide Building Society has admitted it is considering a move into the equity release market following the merger with the Portman Building Society reports Financial Adviser (26/10/06).
Tim Hughes, head of intermediary markets for the Nationwide, said the society had been undertaking a thorough review of the sector.
"The research we have carried out was very much focused on whether the product is likely to become more popular in the future."
Simon Little, chairman of the mortgage prudcut board for Safe Home Income Plans, said "We would welcome them entering the market."
Sixty Plus comment: A major new entrant such as Nationwide would give a great boost to the equity release market. The resulting publicity which would create greater awareness and confidence in equity release.
No comments:
Post a Comment