Legal & General highlights importance of equity release

Date:Thursday 15th October 2009
Author: Max Freedman

Legal & General has told mortgage holders that equity release may become more important for their retirement income in the future.

Ben Thompson, director of mortgages at the organisation, made his remarks following the launch of an equity release service available to Legal & General Mortgage club members.

The company will be working with Key Retirement Solutions (KRS) to deliver the service.

Mr Thompson pointed out that some financial services providers are no longer offering equity release, but he claimed that it could soon become an important resource for supplementing a pension.

He said: "We've therefore set up a stress-free referral process and KRS take care of all the advice as well as keeping the broker fully informed along the way."

Last week, the organisation stated that a fifth of the mortgage applications processed in its Mortgage Club were for tracker interest rate deals.