Newcastle Building Society Equity Release Service (NBSERS) is to close by the end of the year. This follows the news that several other major players are also withdrawing from equity release.
According to Newcastle Building Society: “The recent economic turbulence has led to a considerable contraction in the equity release sector which has led to the decision that NBSERS, which provides advice to clients considering taking out equity release, is no longer a viable option at this time. As a result there will be five posts made redundant and consultation has begun with the individuals affected.”
