Norwich Union rated as top lifetime mortgage lender

04 February 2005
Norwich Union has said it had record sales for its lifetime mortgage deals in the last three months of 2004.

The insurer announced sales worth £145.4 million.

Safe Home Income Plans (SHIP) also rated Norwich Union as the UK's leading provider of lifetime mortgages, with a total market share for 2004 of more than 40 per cent.

"Norwich Union's figures are excellent. In the fourth quarter of 2004, we wrote more lifetime mortgage business than in any other quarter and our figures are up about 11 per cent on the same period last year," said Mark Kelly, director of Norwich Union Personal Finance.

"This is further evidence that the platform created by the introduction of mortgage regulation last year is having a real impact on consumer confidence.

"We anticipate continued market growth in 2005, and the figures released by SHIP are encouraging.

"They show that more and more people are realising the benefits that taking out a lifetime mortgage can bring."

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