Prudential Lifetime Mortgage boss comments on SHIP results

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Prudential Lifetime Mortgage boss comments on SHIP results

The number of people utilising equity in their home to supplement their retirement plans will continue to increase, according to Ali Crossley, the director responsible for the Prudential Lifetime Mortgage.

As many as 12.9 million people intend to use their home in this way and Mr Crossley said today he expects future Safe Home Income Plans (SHIP) results to show continued improvement.

Drawdown plans are up nearly 12 per cent compared with the first quarter this year, which Mr Crossely suggests, is due to consumer's desire for more control over their retirement plans.

Mr Crossley, said: "While it's good news that greater choice and product innovation means that customers are now seeing products that suit their lifestyle, perhaps most important is the need for more qualified advisers that meet the standards the FSA are setting."

Prudential offers a wide range of mortgage plans, pensions and insurance products.

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