Homeowners looking to release the equity in their
property at some point in the future might want to consider a new
remortgage option from Norwich Union.
The company, which also provides
home insurance,
pet insurance,
car insurance,
investment opportunities and personal loans, is launching its equity release cash reserve option in July 2006.
Daren Carter, director of sales and marketing at Norwich Union personal
finance, commented: "The launch of the cash release option complements Norwich Union'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 Norwich Union's goal to remain at the forefront of these developments."
The offer is a lifetime
mortgage, which the company states will enable customers to release an initial amount from their home, while allowing access to more money over a ten year period.
Norwich Union's parent company, Aviva, is the largest
insurance group in the UK and the sixth largest in the world, with over 30 million customers worldwide for its various services.
