Prudential – UK Mortgage Lender
‘The Prudential Mutual Assurance Investment and Loan Association’ was founded in London, in 1848, to offer insurance and loans. The Prudential has expanded greatly since that date and now offers an extensive range of financial services all over the world.
Equity Release Mortgages: lifetime mortgages are available for over 60s wishing to release capital from their homes; 15 percent of the value of the property can be borrowed at age 60, rising to 35 percent at age 80.
The Prudential does not offer mainstream mortgages under its own name. However, its Egg subsidiary (www.egg.com) does offer a wider range of mortgage products.
One of the world’s leading financial service institutions with its main focus being on insurance and lifetime financial planning. Mortgages are not the main offering from the Prudential as they deal almost exclusively with individuals looking to secure their long term financial future, particularly during retirement.
Saving options include ISAs, flexible accounts, bonds and funds all of which can be used to save towards paying off the capital of the mortgage that may still be due at the end of the mortgage term.
As part of the planning process, the Prudential offers an equity release mortgage scheme which is designed with the expertise of the Prudential’s financial planning team. As the Prudential is a specialist in long term financial planning, they have developed an equity release product with this in mind and it is recognised as being one of the best options on the market, particularly when used alongside other Prudential saving products.