17 January 2008
Retirement Plus announces changes to product range
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.”
ENDS
Mainland PR
Zoe Butt
020 3008 7400
Retirement Plus
Duncan Young, CEO
020 7907 8591 / 07775 783 431
Editor’s notes
About Retirement Plus
Retirement Plus is a Milton Homes company. The Retirement Plus Property Plan is a home reversion plan which allows UK residents aged 65 or older to receive full market value for a share of their property at the start of the plan, in return for which they grant Retirement Plus an option to acquire an increasing beneficial share in the property over the life of the Plan. Significantly, this product means the owner can release their share of the property over time, rather than giving up the full amount at inception (as is the case with a standard home reversion). The homeowner can also elect to retain a “protected share” of the property.
Retirement Plus is authorised and regulated by the FSA and is a member of SHIP, the body which is dedicated entirely to the protection of planholders and to the promotion of safe home income and equity release plans. Retirement Plus only accepts business from customers who have received advice from brokers registered with the Financial Services Authority.
Website: www.retirement-plus.co.uk
About Milton Homes
Milton Homes was established late last year to consolidate various investments with a value of over £75m in the home reversion market advised by Delancey. Milton Home Assets Ltd is authorised as a provider of home reversion plans by the FSA.
Website: http://www.miltonhomes.co.uk/
About Delancey
Delancey is an investment advisor with a reputation for consistently delivering significant returns across a wide spectrum of real estate and asset backed opportunities on behalf of its international investor base.
Website: http://www.delancey.com/