Connect for Intermediaries has launched a new equity release lending panel and a whole of market life panel.
The seven-lender equity release panel was announced at the Connect 20th Anniversary conference last month, where chief executive officer Liz Syms also revealed a whole of market life panel, enhanced partnerships with tech partners and a reduction in targets for improved commission splits.
The equity release lender panel comprises of Aviva, Hodge, Legal and General, LV=, More2Life, Pure Retirement and Retirement Advantage. It will be available directly to brokers who have gained the relevant qualification, and on a referral basis for those brokers without. There will also be an equity release course available for all Connect network members.
Syms says the new equity release panel compliments Connect’s current later life lenders including Shawbrook and Family Building Society, offering brokers a full solution to their more mature clients.
Syms says: “Ten or 15 years ago, equity release was a fairly niche product – now, it is one of the fastest growing products in the lending market. And as lifestyles change and ‘over 55’ becomes ever younger, equity release has enormous potential for adding real value, not only to the mortgage market but also our economy and society as a whole.
“But equity release is not just about standalone equity release, there are lots of lenders who have a later-life offering as well. Now, with our later life and equity release lenders, we feel we’ve got an offering that enables our advisers to look at all of those options and make the right recommendation for their clients.”
The new life panel will be advised for those brokers who can demonstrate life sales experience and come on an upgrade course. It will also be opened up on a non-advised basis for brokers who have already attended the course and are signed up for non-advised single tie – they will simply need to request access.