Just Retirement has had an association with Paradigm for over five years and has been available to Paradigm members via the its ‘preferred’ equity release panel since it was established in mid-2008.
Just Retirement will continue to offer its lifetime mortgage product to Paradigm firms plus the company has committed to support members’ work in the equity release sector with additional resource and information.
The Just Retirement lifetime mortgage product offers the following:
• Attractive loan-to-value factors from 20% to 40%, dependent on clients’ age.
• Flexible drawdown facility – minimum initial advance of £10,000 followed by subsequent drawdown advances of only £2,000 with no time limits on future drawdowns.
• Commission on each cash advance with a minimum of £600 payable on the first advance.
Just Retirement also offers a number of online services through its specialist intermediary website, www.justadviser.com. Here advisers and brokers can access and download a variety of tools and support services including marketing tools and calculators to ensure they find the right retirement solution for their client.
All members of Paradigm’s ‘preferred’ equity release panel are members of SHIP and dedicated entirely to the protection of plan holders and the promotion of safe home income and equity release plans. The panel providers offer Paradigm members excellent commercial terms, together with quality service, support and remuneration.
Bob Hunt, chief executive of Paradigm Mortgage Services, said: “It has been over two years since we launched the equity release preferred panel and we strongly believe that our members have access to the market leaders in both the lifetime mortgage and home reversion sectors.
“The equity release market has clearly changed since our initial panel launch which is why it is important that Paradigm revisits its existing relationships to ensure we are delivering ongoing value for both our members and provider partners.
“We have concluded this exercise with Just Retirement and I am pleased to say we have now put in place an enhanced strategic relationship which will develop the overall offering to member firms whilst delivering all the necessary support and resource to enable them to provide top-quality advice to their clients in this specialist area.
“Our relationship is strengthened by this enhanced agreement and we believe Paradigm member firms involved in the equity release sector will continue to work with Just Retirement to ensure the best product match for their clients.”
John Pyburn, director of intermediary sales at Just Retirement, said: “The changing nature of retirement is presenting new possibilities for financial advisers.
“With life expectancy increasing and economic constraints placing a mounting strain on finances, options such as equity release will increasingly become more important and prevalent in retirement planning. With this in mind, we are delighted to be continuing our relationship with Paradigm Mortgage Services and we want to ensure that we continue to support advisers in every way we can.
“As one of the UK’s leading providers of equity release we’ve advanced more than £690 million to thousands of customers and we continue to do our utmost to help advisers help their clients achieve the retirement they deserve. Just Retirement is committed to giving advisers and brokers practical information and guidance that will help ensure they are in a position to understand the nuances of providing advice on equity release.”