Knowledge Bank has signed a partnership agreement with broker and equity release specialist Age Partnership.
Brokers placing cases with Age Partnership via Knowledge Bank will receive a 20% increase in the proc fee compared with going direct.
Meanwhile Knowledge Bank now has equity release criteria on its system.
Nicola Firth, chief executive of Knowledge Bank, said: “Age partnership is a very well respected and award-winning broker and so we knew they were the best equity release organisation to have secured this partnership with.
“We wanted to create an environment where brokers could have real choices with their equity release business and fundamentally enjoy the best of both worlds.
“Whether they are qualified to advise on equity release or not, the Knowledge Bank system offers them a simple, practical solution to either proceed with a case or refer it to one of the leading and most highly respected brokers in the country.”
When they sign up to Knowledge Bank, brokers will be given an option to say whether they have the relevant permissions to transact equity release business or not.
If they are qualified they can quickly access relevant criteria to place cases themselves.
If they are not qualified to transact this business they will be presented with information on equity release and given the opportunity to refer their clients to Age Partnership.