& European Pensions
Property Asset Release Group

EPPARG seeks to foster dialogue between industry, EU institutions and governments on innovative pensions and property asset release solutions.


EPPARG congratulates BNI Europa Bank on launching the first equity release product in Portugal

Equity release in Europe has recently been boosted as BNI Europa Bank launched a new product on the Portuguese market in February 2017 called Cereja, the first brand of financial services for the “greater of experience”, is targeted at people aged 65 years or above. Due to increased life expectancy, health improvement and better literacy, BNI Europa Bank notes that there is now a more favourable environment for the development of new financial products for this age group. BNI Europa Bank is recognised as an innovative market player and has been awarded ‘Best Internet Bank 2016’ by the Global Business Outlook and ‘Best Digital Bank Portugal 2016’ by the Global Banking & Finance Review.

Reverse Credit is a new product in Portugal, inspired by the classic Reverse Mortgage and Equity Release products, which have been very popular in the USA and the United Kingdom. It is a financial product that allows the customer to release the wealth locked in its property, by using it as collateral (mortgage loan). The customer retains the ownership of its property. Portugal is thus joining a growing number of European countries, including Spain, France, Italy, the UK, Sweden and Poland, amongst others, which can demonstrate the social and economic benefits of supporting customers at the peak of their life experience in releasing capital from their homes to meet their daily needs and to greatly improve their quality of life.

The European Pensions and Property Asset Release Group (EPPARG) congratulates BNI Europa Bank upon the launch of Cereja and believes that it will bring greater choice and flexibility to the over 65s in choosing the right financial solution which suits their needs.