Category: Equity release
While 38% said they use equity release to make home improvements to add value or for extra enjoyment, one in eight (12%) customers use the funds to make adaptations for extra comfort and safety.
Retirement finance specialist Age Partnership is most well-known for providing an equity release service.
Some 8 in 10 (80%) equity release advisers feel there is a need for family members to be involved in the advice process – but half said clients are reluctant to do so, more 2 life has found.
AiR Prestige is said to have been designed to ensure advisers significantly reduce their administration burden and the time they spend processing later life cases – but it may also join up areas of the later life market commonly seen as siloed from one another.
What is more one in five (22%) plan to help out their grandchildren.
The equity release lender panel comprises of Aviva, Hodge, Legal and General, LV=, More2Life, Pure Retirement and Retirement Advantage, while the life panel is open to the whole market.
The Later Life Academy, the commercial and training organisation, and trade body the Equity Release Council have launched events in 2019 entitled ‘Later Life Lending – The Big Picture’.
For the first time, half of customers (50%) used equity release to fund home improvements in the third quarter of this year, up from 45% in Q2, Canada Life has found.
When asked how many of their clients they considered to be vulnerable, over half (53%) said they deemed only 1-10% of their past clients as vulnerable and less than two out of 10 (17%) thought it is generally easy to spot a vulnerable client.
Marsden’s latest lending solution is available to applicants over the age of 55.