Prudential Property Value Release Plan "could save tens of thousands"

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Prudential Property Value Release Plan "could save tens of thousands"

The Prudential Property Value Release Plan could offer customers savings of tens of thousands of pounds, the lender has claimed today.

These savings are made simply through the product's facility that allows customers to release their money as and when they need it.

Prudential's statement comes as it speaks out against comments made on financial website MoneyExpert, which said that pensioners aiming to raise money from their homes through equity release mortgages risk paying up to £1,600 extra per year in interest.

"Pru disagrees with some of the comments made this week by financial comparison company MoneyExpert.com, regarding the equity release market," said Jan Holt, head of sales for Prudential Lifetime Mortgages.

"Our view is that an independent site like this should be giving consumers accurate information and guidance into the innovations in the lifetime mortgage market."

The company claims that with the Prudential Property Value Release Plan it was one of the first lenders to offer a flexible drawdown product.

A saving can be made through these sorts of products, Prudential claims, as they allow customers to control the amount they borrow, only taking money when they need it and potentially reducing the amount of overall interest they pay.

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