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NEWS

7:38 AM, 7 Apr 2008

ABN AMRO launches new reverse mortgage

Abstracted from Money Management


ABN AMRO has announced the launch of two new reverse mortgage products. Martin Lynch, head of reverse mortgages at ABN AMRO, says that the two - the Investment Property Mortgage (IPM) and the Accommodation Bond Loan (ABL) - represent a first in that they have been specifically designed with financial planners in mind. The current standard within the reverse mortgage sector is that around 10 per cent of a provider's products are sold by financial planners, but ABN AMRO tips that up to 33 per cent of sales of the ABL and IPM will be made to planners

Distributed by News Bites. © Lexis-Nexis


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