Equity release specialist Home & Capital has taken over responsibility to administer a portfolio of around 1,000 home reversion plans for a major international financial institution.
The newly acquired plans were originated by In Retirement Services, which is now in administration. This appointment will increase Home & Capital’s plans under management from approximately 2,000 to 3,000 and add a valuable recurring revenue stream to its equity release activities.
Graeme Marshall, chief executive of Home & Capital, said: “This is a significant step for our equity release business and. will materially enhance our recurring revenue base, further establishing us as a leading administrator of equity release plans. It demonstrates that we can improve our performance even in the current difficult market conditions.”
