Prudential mortgage 'could benefit first time buyers'

25-Sep-2006

Prudential's Property Value Release Plan has been awarded the title of best lifetime mortgage provider by the financial comparison website Moneyfacts.

The mortgage, which Prudential says is more flexible than other products, gives first time buyers the chance to draw down the loan in stages.

Ali Crossley, Prudential's director of lifetime mortgages, said: "Flexibility is key to customer value and in that respect, our product leads the pack."

Prudential indicates the mortgage would provide benefits for first time buyers who do not need the maximum loan-to-value upfront.

The company offers a number of other products along with mortgages, including savings and investment, and insurance products.

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