The increased £250k release is available for all Bridgewater’s home reversion products including the maximum release plan, flexible release plan and secured escalating release plan.
Peter Welch, head of sales and distribution at Bridgewater Equity Release, commented: “Bridgewater continues to lead the home reversion sector in terms of product offering; we are the first provider to raise our maximum release and the £250k amount is substantially more than most of our competitors left in the market. This is proof positive of our commitment to the market and we will continue to ensure our customers can release the equity they need through a Bridgewater home reversion plan.
“We introduced the £100k maximum as part of a robust risk management process which allowed us to keep products on the shelves throughout a particularly difficult period for the market. That decision ensured that our releases remained available to as many customers as possible. We have now entered 2010 with an intention to build on our position of leadership in the home reversions sector and this increase in the maximum release available to £250k shows the way forward.”