Crown to boost reversion rates

Rates will be moved by as much as 2.25 per cent - reportedly making Crown the most generous arranger of home reversion plans in the 65 to 80 age group for single and joint lives.

Managing director of Crown Equity Release, Mark King, commented: "It is well-documented that the equity release industry has enjoyed unprecedented growth in recent months as people look to unlock the equity in their homes as a way to find retirement.

"At Crown we are committed to treating our customers fairly by passing on the benefits of this upturn. A home reversion plan is a joint venture between investors and the homeowner and therefore, where possible, the yield should be spread between all of the parties involved in the agreement.

"When taking out any type of equity release plan, we are often working with our customer’s largest asset and dealing with emotive issues such as long-standing family homes or retirement plans. Deciding to unlock equity is going to be the biggest financial decision you make in retirement. With this in mind, it is only right that Crown looks to secure the best deal for all of its clients.”