Article date: 2 February 2005
- Sales hit new record in fourth quarter of 2004
Norwich Union has announced record sales of itslifetime mortgage in the fourth quarter of 2004 with sales worth£145.4m.
Figures released by Safe Home Income Plans(SHIP) also confirm its position as UK’s leading provider oflifetime mortgages, with a total market share for 2004 of more than40%.
Mark Kelly, director of Norwich Union PersonalFinance, said: "Norwich Union's figures are excellent. In Q4 of2004, we wrote more lifetime mortgage business than in any otherquarter and our figures are up about 11% on the same period lastyear.
"This is further evidence that the platformcreated by the introduction of mortgage regulation last year ishaving a real impact on consumer confidence.
"We anticipate continued market growth in 2005,and the figures released by SHIP are encouraging. They show thatmore and more people are realising the benefits that taking out alifetime mortgage can bring."
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Notes to editors
- Norwich Union is the market leading lifetime mortgage providerwith a market share of 41.5% (Source: Safe Home Income Plans Q42004).
- Full written terms and conditions are available on request.Norwich Union is the UK's largest insurer. It is the UK'slargest provider of life, pensions and investment products andone of the leading IFA providers. IFAs provide around 75% of thecompany's long-term savings business in the UK.
- Norwich Union has strategic alliances with building societiesand other leading UK brand names including Tesco PersonalFinance and The Royal Bank of Scotland Group. Norwich Union'snews releases and a selection of images are available fromAviva's internet press centre at www.aviva.com/media
- Norwich Union Equity Release Limited No 3286484. Registered at2 Rougier Street, York, YO90 1UU. Authorised and regulated by theFinancial Services Authority.