Equity Release Supermarket launches referral service

Sarah Davidson

March 30, 2015

Using the service brokers can easily refer business without having to deal with the cost and hassle of regulation.

Mark Gregory, founder of Equity Release Supermarket, said: “We have established Equity Release Partners as I felt businesses deserved a more responsive partner to handle their existing equity release enquiries or build their own equity release proposition.

“We have devised our reporting mechanism to ensure the very best communication between our advisors, introducers and their clients ensuring everyone is always up to date.

“Due to our size and independence we also have the ability to be highly flexible ensuring we can mirror the varying requirements of our customers.”

The online case tracking system lets partners retain client ownership and keeps them up to date with the transaction.

Gary Webster, head of partnerships of Equity Release Supermarket, said: “Becoming an Equity Release Partner not only provides businesses with a highly profitable new revenue stream of on average £1,200 per completion, but we will actively work with firms to maximise the customer experience for their business.

“We are replicating a number of online tools and offline services that we have used very successfully in the consumer space to share with the broker community and their clients. For too long there has been a corridor of uncertainty between conventional mortgages and equity release.

“Whilst we know full well that Lifetime Mortgages are not a shoo-in to the potential problems for older borrowers, it is increasingly becoming one of the options considered, which is why we work very closely with our existing partners to help them explore all client opportunities for the best consumer outcomes. A big focus for us is not just the transaction itself but what the transaction can achieve for the customer.”

Using the service brokers gain access to a selection of exclusive products and offers due to the Equity Release Supermarket’s long-standing relationships with providers.

Jon Tweed, sales director at Hodge Lifetime, said: “More and more customers are looking to borrow into retirement for a variety of reasons.

“It is great to see a process whereby advisers can refer their customers with confidence to a specialist such as Equity Release Supermarket who is able to consider all the lifetime mortgage and retirement mortgage options available.”

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