Martin Reynolds, chief executive officer of SimplyBiz Mortgages,said: “We believe that equity release is moving into its next stage of development for a number of reasons.
“Whilst we are beginning to see pension shortfalls, the key driver moving forward could be the interest only situation within the mainstream market. Where borrowers have no repayment vehicle in place, or a potential shortfall, moving to a lifetime mortgage may be their only option.
“Our new offering will provide our members with access to all areas of the equity release proposition and will compliment their current retirement planning options.”
The new package also includes a referral service, for SimplyBiz Mortgages Members who do not hold the relevant qualifications to conduct equity release business.
SimplyBiz Mortgages will also shortly be providing help and assistance for members who do wish to gain these qualifications.
Upon launch, the proposition also offers exclusive enhancements to a selection of products from LV= and Partnership.