Founder:
Expert VerifiedKey Takeaways
- Prudential stopped providing new equity release loans in 2010.
- Prudential does not offer equity release alternatives but provides pensions, investments, and home insurance.
- Existing clients with Prudential lifetime mortgages can contact the company for assistance.
If you are exploring your retirement options, you may have heard mention of Prudential equity release.
In this article, we'll explain why this is no longer an option for new clients and briefly explore the firm's products.
This article explores the following topics, drawing on our expertise in the field:
COMMENT: TimeBank.org.uk is an independent third-party data provider, and the information shared here reflects their views alone, not necessarily those of Prudential. This article is for informational purposes only and should not be considered financial advice or a recommendation to engage with any products offered by Prudential.
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- Who offers the LOWEST rates available on the market.
- Who offers the HIGHEST release amount.
- If you qualify for equity release.
Who Are Prudential?
Prudential, formed in 1848, provides long-term savings and protection products.1
Prudential, sometimes referred to as 'Pru UK', is part of M&G plc, which has clients in 26 markets.2
Their offering includes pensions, investment products, and home insurance.
Does Prudential Offer Equity Release?
No, Prudential does not offer equity release.
The company stopped providing new equity release loans in 2010, citing the high up-front costs of lifetime mortgages.3
Existing Lifetime Mortgage Clients
Existing lifetime mortgage clients can contact Prudential on 0345 656 0000.4
Does Prudential Offer Equity Release Alternatives?
Prudential doesn't offer any obvious equity release alternatives.
The firm does, however, offer pension, investment, and home insurance products.
Let's take a quick look at the first two of these.
Prudential's Pension Products
Prudential's pension products include the Prudential Retirement Account and Workplace Pensions and Additional Voluntary Contribution (AVC) schemes.
Prudential's Investment Products
Prudential's investment products include OEICs, the Prudential Investment Plan, the Prudential ISA, the International Portfolio Bond, and the Prudential International Investment Bond.
To learn more about Prudential's products, visit their website.
How Did We Review the Info on Prudential?
We spent hours gathering all the relevant information on Prudential and their products so we could give you a condensed, easy-to-read version of their offering.
Prudential Client Reviews
Prudential client reviews can be found on online reviewing sites.
Client reviews of Prudential or Pru UK:
Contact Prudential
You can contact Prudential in a few different ways.
These include:
- online message: accessible here
- post: Customer Service Centre, Prudential, Lancing, BN15 8GB
- phone: 0800 000 000
Prudential's Regulatory Details
Prudential's regulatory details may be of use to you as you research your options.
Trading Names
Prudential Distribution Limited
FCA Permitted Services
- Arranging (bringing about) deals in investments
- Assisting in the administration and performance of a contract of insurance
- Dealing in investments as agent
- Making arrangements with a view to transactions in investments
- Advising on regulated mortgage contracts
- Arranging (bringing about) regulated mortgage contracts
- Making arrangements with a view to regulated mortgage contracts
- Arranging (bringing about) deals in investments
- Making arrangements with a view to transactions in investments
- Arranging (bringing about) deals in investments
- Assisting in the administration and performance of a contract of insurance
- Making arrangements with a view to transactions in investments
- Insurance distribution
Regulators
Registration Numbers
- FCA ref. number: 194709
- Companies House reg. number: SC212640
FCA & Companies House Link
- FCA link: Prudential Distribution Limited
- Companies House link: Prudential Distribution Limited
Common Questions
Does Prudential Offer Equity Release?
Why Did Prudential Stop Offering Equity Release?
Who Owns Prudential?
Final Thoughts on Prudential
Prudential does not offer equity release products to new clients anymore.
If you are interested in this type of financial solution, you will need to explore other providers who specialise in these products.
For those drawn to the potential benefits of equity release, such as enhancing retirement income or managing debts, it is essential to conduct thorough research and compare the offers available in the market.
Consulting a financial advisor also remains vital for anyone considering equity release, as professional advice is mandatory when applying for these products.
Even though Prudential equity release is no longer an option, discussing your needs with a qualified advisor can help you plan for your retirement.
