The high level of customer satisfaction underlines the strength of Norwich Union’s equity release advice service. Of the thousands of people who approach Norwich Union each year to enquire about equity release each year only about one in five go on to take out a plan.
Anthony Rafferty, head of marketing, post retirement for Norwich Union said: “We are delighted by these figures; there certainly are not many companies that can say more than 87% of customers have such high satisfaction levels with the service and products they receive. One of the reasons for success is that we have a rigorous advice process and do not recommend equity release to potential customers unless it is right for them.
“Equity release can be an excellent way to release money from a home, but for others it isn’t necessarily the best option. For example, we would advise against it if we find that a person has other sources of income, would prefer to move to a smaller house, or they could lose benefits and be worse off financially after taking out a scheme.
“Equity release is a long-term product and we recommend that people think long and hard, and consult family and friends before taking out a plan. It is our aim to provide financial solutions that enable people to enjoy their later years as much as possible. For many people equity release can provide a source of income and great peace of mind.”