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Age UK ends controversial equity release advice partnership with Just

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  • 14/02/2020
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Age UK ends controversial equity release advice partnership with Just
Age UK has shut its equity release advice offering following controversy over its commercial relationship with provider Just.

 

The charity’s Age Co arm had been offering equity release services through Hub Financial, which is owned by Just.

But Hub Financial routinely recommended consumers products from Just, a Telegraph investigation last year found.

Age UK was then found to receive commission sometimes worth thousands of pounds from deals sold.

Any prospective customers who enquired about the service before 3 February can continue to gain Age Co Equity Release advice as long as they make contact with Hub before 3 March.

Existing customers who have taken out equity release products through Hub will not be affected by the change.

An Age UK spokeswoman said the Telegraph’s findings and the end of the Hub partnership were not linked.

She added: “We continue to believe that equity release can be a good solution for older people under the right circumstances, and we welcome the increasing number of reputable providers and products in the market.

“It is possible that Age Co may provide equity release options in the future, but there are no details confirmed at this point.”

Just declined to comment when contacted by Mortgage Solutions.

 

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