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30 June 2011

Bridgewater Equity Release, the home reversion specialist, has today (30th June 2011) commented on the launch of two new home reversion products from Newlife ? home related finance. Peter Welch, Head of Sales and Distribution at Bridgewater Equity Release, commented: ?It is vitally important for the overall equity release market that we have a fully-functioning, competitive home reversion sector and therefore we welcome Newlife?s first foray into reversions with these two new products. Increased product choice and a greater focus on reversions from both providers and advisers alike helps project the sector in a brighter light, delivers confidence and certainly offers clients a much more rounded choice of equity release options. ?In these economic times with house price fluctuations, reversions are often a more suitable equity release option, particularly for those individuals that want certainty and do not want rolled-up interest products. There is also the advantage with reversions that clients can be sure of leaving a legacy if they do not release 100% of their home?s value ? this is not the case with lifetime mortgages where the final debt is unknown at the time the product is taken out. ?We believe that there are many individuals who would find a home reversion product a much more suitable way to release equity from their home. We would therefore urge advisers to look at Newlife?s offering and other products in the sector to make sure they have the necessary knowledge and expertise to recommend the right product for their client.? ENDS

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