Norwich Union Cash Reserve Option set for launch
www.moneynews.co.uk > Mortgages > Norwich Union Cash Reserve Option set for launch
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Money News |
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Norwich Union Cash Reserve Option set for launch
Mon 3rd Jul 2006
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Customers can unlock some of the value of the home with an initial amount and a reserve fund with the new lifetime mortgage product.
There will be no limit on the number of times customers can release funds from their cash reserve and access is maintained for ten years.
Available from financial advisors and through Norwich Union's personal finance sales force, the minimum initial amount that can be taken is £10,000 and there is a cash reserve minimum of £5,000.
Daren Carter, director of sales and marketing at Norwich Union Personal Finance, said: "The launch of the Cash Reserve Option is an exciting addition to our product range and means that we are now the only major provider to offer reversion, drawdown and lump-sum lifetime mortgage plans."
Norwich Union also offers a series of insurance products including car, home and travel insurance.
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