Norwich Union Lifetime Mortgage customers spending habits revealed

Money News

www.moneynews.co.uk > Mortgages > Norwich Union Lifetime Mortgage customers spending habits revealed

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Norwich Union Lifetime Mortgage customers spending habits revealed

New research has discovered how customers spend the extra money released by taking out a Norwich Union Lifetime Mortgage.

The majority of Norwich Union Lifetime Mortgage customers use the extra cash to invest in their homes, as 77 per cent said they spent the money on home improvement.

Other customers use the extra money to top up their current income while 34 per cent said they used it to go on holiday.

Daren Carter, director of sales and marketing for the Norwich Union Lifetime Mortgage, said: "These figures show that the majority of equity release money is needed for practical purposes."

"Providing their families with a 'living legacy' by, for example, helping grandchildren get a start in life, is also making retired people consider equity release," he added.

Norwich Union Lifetime Mortgages has a 34 per cent share of the lifetime mortgage market and the company also provides home insurance.

Related News : Mortgages

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Related News : Aviva

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet