To introduce the new structure, Retirement Plus has also waived the fees payable by homeowners for a limited period.
Managing director, Duncan Young said: “An increasing number of brokers now recognise the value of equity release and the part it plays in financial planning. We are very keen to support this positive trend.”
Portman to close branches
Portman BS has taken the decision to close nine of its branches, following an annual review of its branch network.
Announcing the decision, Robert Sharpe, chief executive of Portman, said: "Portman’s strategic branch review gave our members in the area the opportunity to vote with their feet and use their local Portman branch. In the areas where a branch will now close, it would appear that there is limited demand for the type of services we offer.”
