LV= has agreed a partnership that will see equity release customers referred to Age Partnership.
The launch of a direct channel by LV= follows a series of recent improvements the mutual has made to its equity release business.
In August, LV= launched a new drawdown product – Lifetime Mortgage Drawdown+ in addition to its Lump Sum+ product. In addition, it launched the LV= Equity Release Portal allowing advisers to submit and track lifetime mortgage applications online and complete new business more quickly.
Clive Bolton, managing director of savings and Retirement at LV=, said: “The equity release market has grown over the past decade and consumers increasingly understand that it is an increasingly mainstream retirement planning option for people who want to unlock the value in their home to enjoy the retirement they want.
“This development of our direct marketing capability and agreement with Age Partnership will help us grow the market by leveraging the appeal of our trusted brand credentials and enable consumers to speak to expert advisers who can help find them the most suitable equity release plans on the market.
“LV= chose to work with Age Partnership due to their expertise in advising later life clients and the high quality experience they deliver on behalf of partner brands.”
Dan Baines, commercial director at Age Partnership, added: “We’re delighted to be supporting LV= and its customers with the provision of high quality whole-of-market advice in this increasingly important sector.
“LV= has been a respected product provider for many years now, and through this collaboration we are excited to be adding an outstanding advice service to the range of options that it offers.
“Equity release products now deliver a combination of value and flexibility that is better than ever and the sector has a key role to play in later life financial planning. We look forward to providing LV= customers with safe, clear and balanced advice on their options in this area and, ultimately, to improve their lives.”