Equity Release

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If you are a homeowner aged 60 or over, a Norwich Union Equity Release plan could enable you to release capital from your home and enjoy a cash lump sum or a guaranteed regular income.

How does it work?

A Norwich Union Equity Release plan can provide you with a loan secured on your home – you retain full ownership of your home and are free to live in it as long as you wish and there are no repayments to make during your lifetime.*

Norwich Union offers two Equity Release plans:

 

  • The Flexible Cash Release Plan which enables you to release a cash lump sum to spend as you choose.

     

  • The Flexible Income Release Plan which provides a guaranteed regular income for life by investing the money you released in a Norwich Union Immediate Life Annuity Plan.** With this plan you may choose to take up to 25% of the money released as a cash lump sum.

     

I am over 60, how much can I borrow?

The amount you can borrow depends on your age, or the age of the younger person of a couple.

 

The Flexible Cash Release Plan

The Flexible Income Release Plan

Amount you are able to release as a percentage of the value of your property

Amount you are able to release as a percentage of the value of your property

Age

Minimum % available1

Maximum % available2

Age

Fixed % available

60 . 64

10%

18%

60 . 64

21%

65 . 69

10%

23%

65 . 69

27%

70 . 74

10%

27%

70 . 74

32%

75 . 79

10%

34%

75 . 79

38%

80 . 84

10%

40%

80 . 84

45%

85+

10%

45%

85 - 95

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