Press Releases

Retirement Plus announces changes to product range   17/01/2008

Retirement Plus has today announced that its Property Plan has been renamed the Classic Property Plan.

The change in name has also brought some major changes to the product criteria. The most important of these is the waiving of the completion fee and the reduction in valuation fees – and their subsequent refund on completion. This effectively means the customer has free entry to the products.

The key features of the Classic Property Plan are as follows:

• Fair and flexible for future life changes
• Guarantees your client can leave an inheritance with a Protected Share – yet still raise the same amount of money as they would on a lifetime mortgage
• Cancel the Property Plan at any time by paying us the value of our share of the property

Duncan Young, Chief Executive of Retirement Plus, said: “This Classic Property Plan product will be hugely competitive in the home reversion market place. The Classic Property Plan has not lost any of its flexibility but we have lowered the costs attached to it.

“Clients can raise the same amount of money as they would on a lifetime mortgage yet still guarantee an inheritance with a protected share.”

Coupled with this Retirement Plus is delighted to announce the launch of its Higher Release Property Plan.

The Higher Release Property Plan provides all the flexibility of the Retirement Plus Classic Property Plan but allows clients to release the maximum amount available to them.

The key features of the Higher Release Property Plan are as follows:

• Higher release amounts coupled with the flexibility of the Classic Property Plan – just bear in mind that the higher equity transfer rate means our share in the property will grow faster

• Your client can retain a share in the property for life with a protected share

• Cancel the Property Plan at any time by paying us the value of our share of the property

Duncan Young said: “The Higher Release Property Plan works just like our Classic Property Plan with no upfront discounting, but it has the advantage of letting your clients raise a larger amount, which is usually competitive with the maximum available under any equity release plan, whilst still offering flexibility for future life changes.”

“We release more cash with this product, and our equity transfer rate is higher than that of our Classic Property Plan, so our share in the property will grow faster.”