Benefits
Overview
The Norwich Union flexible Cash Release Plan can provide you with extra cash to
whatever you want
- Help towards household
bills
- Keep your car on the
road - or buy a new one
- Set up a 'rainy day'
fund in case of sudden unexpected bills or expenses
- Care for your family's
needs - like helping with education costs or weddings
- Provide for long term
care in the future
- Pay for home
improvements
- Help you carry out your
retirement plans
- Pay for you to take a
holiday, or visit relatives abroad
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Freedom to move...
Alternatively, the Plan can give you the freedom to sell up and move to
another property if you wish. Although if you move to a property which is
worth less than your current home you may have to repay some of your loan,
plus interest.
...and freedom of choice
Whatever you want to do, Norwich Union's Flexible Cash Release Plan could
provide you with a loan of up to 45% of the current value of your home,
depending on your age*.
*If you are taking out a joint
Plan, we will use the age of the younger borrower.
Continue to enjoy the financial benefits of home ownership
Because the Flexible Cash Release Plan lets you keep ownership of your
home, any increases in its value over the years will benefit you.
However, please remember that property prices can fall as well as rise. Of
course, our No-Negative Equity Guarantee ensures you are protected
whatever happens.
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Why this Plan is an excellent
opportunity to raise the cash you need
Enjoy the independence of living in your own home while making the most of
its value
Your home is probably the most valuable item you own - yet that value is
meaningless unless you can somehow release the cash it represents. The
Flexible Cash Release Plan lets you do just that without having to sell
your home. in fact, you retain full ownership and can go on living there
for the rest of your life.
No repayments to worry about in your lifetime
With the Flexible Cash Release plan there are no repayments during your
lifetime unless you sell your home or leave it to go into long term care.
That means you can use the cash however you wish, without the worry of
monthly repayments.
Safety and reassurance with the protection of our Guarantees
Our No-Negative Equity Guarantee has been built into the loan at no extra
cost, and will make sure your estate cannot be left with a dept as
a result of taking out the Plan.
For extra peace of mind you can also take out our Optional Guarantee,
which ensures that when your home is sold due to death or the need for
long term care, you or your estate will receive at least 25% of the
initial value of your home. The Optional Guarantee is not suitable for
everyone, so you will need to discuss it with your Financial Adviser.
Fixed interest helps you plan for the future with certainty
Throughout your loan, interest is charged at a fixed rate which will
not change.
CJR Associates can explain how a Norwich Union Flexible Cash
Release Plan could benefit you and your family. |
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