Still open for business, confirms Home & Capital

Equity release specialist Home & Capital has made it clear that it is still open for business despite the fact its parent company, Sovereign Reversions, has been acquired by Grainger.

Graeme Marshall, chief executive at Sovereign Reversions, said: “The advent of a new parent company for Home & Capital marks a new era in the equity release sector, bringing together Home & Capital’s considerable expertise in the sector, gained over 30 years and Grainger’s new financing.

“Home & Capital continues to trade as a separate brand within the Grainger group and, as of today, nothing has changed in terms of the way we deal with customers, advisers and other stakeholders.

“Home & Capital has always been 100% committed to the growth of the sector and our acquisition by Grainger provides us with the market position and financial strength to develop further our services to meet the growing and evolving needs of our customers.”

Peter Couch, chief operating officer at Grainger, said: “Our acquisition of Sovereign Reversions plc and its subsidiary, Home & Capital, demonstrates both our commitment to and our positive outlook on the equity release market.

“The enlarged group’s position as one of the UK’s leading equity release companies is significantly strengthened. In addition, both our existing and new customers and shareholders will benefit from the resulting economies of scale, an enhanced ability to access sources of finance and a widening of distribution and marketing capabilities.

“All customers, clients and stakeholders of both Sovereign Reversions and Home & Capital should be assured that as of today, everything is business as usual. As we get to know the business better and begin to bring it into the Grainger fold, we will keep everyone informed and seek to balance the needs of all stakeholders.

“We look forward to working with the Sovereign and Home & Capital teams to consolidate further our industry position and take advantage of the excellent growth prospects of the equity release market.”