New equity release development manager for LV=

Fresh equity release schemes can be expected at LV= after it appointed a new development manager.

The announcement holds the potential of further products being introduced in the market as equity values in homes continue to fluctuate.

LV= has revealed that Clare Lucas, whose last job was to lead the company's Financial Advice Bureau, will now be heading the product development team responsible for designing new equity release products.

Vanessa Owen, head of equity release at LV=, said Ms Lucas' "wealth of knowledge" would help in determining the way forward for the financial products provider.

She added: "We also have a strong commitment to the equity release market, strengthened by our well-attended nine equity release roadshows around the country in May, and a new improved LV= equity release marketing kit soon to be launched to IFAs. Clare's appointment will be key in the delivery of LV='s equity release strategy."

This news comes in the wake of recent data published by HSBC that indicates that equity values of British homes have been hit by the fluctuations in housing prices.

Ashall Glover Financial Services experts in home equity release schemes.