Response to changing market
Standard Life joins Age Partnership in equity release
The Edinburgh-based business recognises that customers’ needs from their life savings are changing, and for many people, a significant proportion of these savings are tied up in their property.
Equity release enables homeowners aged 55 or over to access some of the money from their home, whilst still retaining 100% ownership of their property. The money released, plus the accrued interest is then repaid on death or when they go into long-term care.
Susie Logan, Brand and Marketing Director at Standard Life, said: “Since pension freedoms, we are seeing so much diversity in the way people are accessing their life savings.
“We chose to offer the solution through a partner who has been providing specialist equity release advice for the past 15 years.”
Dan Baines commercial director at Age Partnership, said; “Standard Life’s decision to offer an equity release service direct to customers is recognition that equity release is fast becoming a mainstream solution for later life financing.”