Coventry suspends equity release range

A spokesman says the company fully expects to return to the market but did not say when, adding all plans for new products have also been put on hold. "We will continue to service existing clients but we simply cannot continue lending because the cost of long-term funding is creeping up," the spokesman says. "As a result we will not be offering any new equity release products. We felt it was better to remove the products with a view to re-entry when times are more benevolent." He adds the building society is still a strong supporter of the equity release market and still a member o...