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Helping advisers onto the equity release ladder

Jun 18, 2018, 10:15 AM
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We've launched a new equity release 'hub' to help advisers benefit from the burgeoning lifetime mortgage market.

Containing guides, exam support and four structured CPD-accredited video modules, the hub is designed to make it easy for advisers not yet qualified in equity release to learn more about it and consider advising clients on it.

In addition, it also caters for qualified equity release advisers, providing support to help them generate more leads and have better client conversations.

Alistair McQueen, Head of Saving and Retirement at Aviva, said: "This hub has got everything an adviser will need to learn about how equity release can help their clients and their business. Whether they're new to equity release, already qualified - or even if they simply want to refer leads - we've got plenty of support to help them take the next step."

How big is the opportunity?

We've created the hub in response to increasing interest in equity release in recent times, with the Equity Release Council reporting that 2017 saw a huge 42% rise in the market.

Mr McQueen said: "In the past, advisers and consumers routinely dismissed lifetime mortgages as a last resort for desperate homeowners needing to free up funds in retirement - funds that could've been best left locked up in bricks and mortar."

"There's no doubt that equity release has a crucial role to play in later-life planning. And with the market opportunity only set to grow, now is a great time for advisers to establish a strong foothold in this exciting marketplace as equity release continues to carve out a reputation as a credible, powerful option for retirement lending."

Clients of all kinds

A growing number of clients aged 55 or over - even those at the more affluent end of the spectrum - are now turning to lifetime mortgages as a way to unlock the substantial wealth they have built up in their property.

And it is no longer just about accessing capital for home improvements or a once-in-a-lifetime holiday. Instead, lifetime mortgages are increasingly offering homeowners a common sense, tax-efficient way to consolidate debts, or to help younger family members via a living inheritance, a contribution to education costs or a leg up onto the property ladder.

"For many clients, a lifetime mortgage could represent a real financial lifeline. But some are still unaware of lifetime mortgages, while others are put off by outdated misconceptions. Making the most of this growing market opportunity calls for a coordinated approach from professionals across the board, backed up by robust messaging that communicates the potential benefits in a clear and balanced way."

"Napoleon once described the British as a nation of shopkeepers. These days, we're more a nation of homeowners, and that points to a huge opportunity for advisers," added Mr McQueen.

To find out more, please visit our equity release hub.




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