L&G Home Finance launches lockdown support measures

Claire Singleton L&G home finance equity release demand

Legal & General Home Finance (LGHF) has launched a series of measures across its Home Finance business to support advisers and customers during the lockdown.

LGHF has launched an online equity release study portal, which features content delivered by a CII-accredited tutor – the free-to-access service would usually costs £200.

It aims to help aspiring equity release advisers secure the CII Certificate in Equity Release qualification or equivalent. More information can be found here.

Moreover, LGHF’s entire programme of educational events for advisers will now be available online. Last year, these included workshops for intermediaries entering the equity release market and business growth seminars.

The drawdown process for existing customers is now paperless. For customers who request a drawdown, LGHF will email documents to them securely which can be accepted electronically.

LGHF has implemented a desktop valuation process for its lifetime mortgage product range, which enables property valuations without a home visit. These are undertaken by independent surveyors, who use publicly available information to assess properties. Over 1000 valuations have so far been completed.

LGHF will allow all Optional Payment Lifetime Mortgage (OPLM) customers to miss up to three monthly interest payments, without these counting towards the six missed payments allowed in the product terms. All OPLM customers remain able to stop making monthly interest payments at any time and convert to interest roll-up.

Legal & General is hosting a regular webinar series, ‘In Conversation With…’, which brings experts together to offer advice and share challenges with advisers. These are streamed live and available ‘on demand’ shortly afterwards.

Claire Singleton (pictured), CEO of Legal & General Home Finance, said: “We hope that these initiatives help our adviser partners and their customers navigate these extraordinarily challenging circumstances.

“We, of course, remain in constant dialogue with advisers and customers and will continue to review and adapt our processes where helpful.

“We are excited by the launch of our new online portal as, in our view, our industry has a responsibility to educate and support as many advisers coming into the market as possible.”

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