Brokers will be able to talk directly to senior underwriters about more complex equity release cases, under a new initiative by specialist lender, More 2 Life.
The equity release provider says it is making changes following feedback from brokers, and hopes this new system will lead to a more efficient and simpler application process.
More 2 Life already offers a helpline where brokers can discuss any cases that require specialist consideration prior to an application.
Alongside this additional support, More 2 Life has also introduced new training modules for its broker support team.
These have been designed to enable brokers to understand more about the underwriting process, and help with any pre-case queries.
These developments are part of a series of adviser-focused initiatives. Last year the lender launched an online portal, its web-based ‘learning lab’ and developed the fasted commission payment process in the industry.
More 2 Life’s channel marketing director Stuart Wilson says: “At our recent roadshow events we had advisers telling us how important it is to be able to discuss difficult cases directly with an underwriter, and so we have responded.
“The equity release market shows no signs of slowing down. With a growing number of homeowners considering equity release as a central tool for retirement financial planning, advisers may soon find they encounter more unusual customer cases.
“Through our dedicated underwriter assistance and internal training programme, we will have experts in place to help advisers through the pre-application process and provider them with the answers they need to place their cases.”
More 2 Life’s chief underwriting officer Martin Heppenstall adds: “We fully understand the important role that advisers play in the equity release market and the hard work which goes into every case prior to contacting a lender.
“We are dedicated to building the knowledge without our adviser support teams by having a mandated senior underwriter present with them at all times to respond to queries.”
He adds: “We hope advisers will take advantage of this added level of service, as it will help them to handle complicated cases and quickly deal with any issues that may arise. We are confident this will be seen as an innovative step forward and a useful tool for advisers who are thinking about entering the retirement lending industry.”