Newcastle launches full equity release brokerage service

Newcastle Building Society Equity Release Service has been launched to provide advice on equity release plans across the UK.

The Society’s equity release offering previously focussed solely on advising customers on lifetime mortgages offered by Safe Home Income Plans (SHIP) approved providers. The expansion of the advisory service, to also recommend appropriate home reversion schemes, comes six months after the FSA introduced regulation of these products.

John Digman recently joined the Society to head up the Equity Release Service and leads a team of specialist consultants who are Chartered Institute of Insurance (CII) equity release qualified advisers. The team aims to provide the highest quality advice to those looking for additional capital in their retirement, guiding them towards the most appropriate plan should equity release be a suitable course to follow.

Bob Mottershead, Retail Sales Executive at Newcastle Building Society, commented: “We are delighted to launch the Newcastle Building Society Equity Release Service. The Society is committed to providing high quality financial services advice to our customers and being able to offer advice across all sections of the equity release market is an extremely important part of this.

“Expanding to include newly regulated home reversion schemes enables us to meet the needs of today’s maturing society and offer advice on all forms of equity release. This meets the needs of a wider range of customers and ensures they are being guided towards a product which is right for their individual circumstances.”

To guarantee customers’ safety, Newcastle Building Society Equity Release Service will continue to only recommend equity release schemes from providers who follow the SHIP Code of Practice. In addition, the Society has introduced its own 5 star promise to:

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Only offer schemes provided by SHIP members
Recommend products that offer a no negative equity guarantee
All consultants fully qualified Equity Release Advisors
Provide a personalised illustration for you including any recommendations