This appointment will increase Home & Capital’s plans under management from approximately 2,000 to 3,000 and add a valuable recurring revenue stream to its equity release activities. The newly acquired plans were originated by In Retirement Services, which is now in administration. A long-term contract is expected to be executed in due course.
As well as administering plans for third parties, Home & Capital advises retirees on equity release and provides home reversion plans.
Graeme Marshall, Home & Capital’s chief executive, said: “This is a significant step for our equity release business and. will materially enhance our recurring revenue base, further establishing us as a leading administrator of equity release plans It demonstrates that we can improve our performance even in the current difficult market conditions.”
