UKAR Update (March 2020 #1)

On 27 September 2018, UKAR announced the sale of a portfolio of equity release loans to Rothesay Life plc.

The final stage of this transaction is now complete and legal title to the loans included in the sale have been transferred. Rothesay Life have appointed Pure Retirement, an FCA regulated, specialist equity release provider, to service and hold legal title to the loans.

All customers affected by this transaction have been contacted to update them on the change of ownership. A key consideration was the continued fair treatment of customers and there will be no changes to the terms and conditions of the loans as a result of this transaction.

ENDS

Notes to Editors:

• Approximately 5,000 NRAM, B&B and Mortgage Express equity release mortgages were included in the transfer.
• The sale was announced in September 2018. To view the announcement click here.