A new sourcing system has launched that enables brokers to search for equity release and retirement lending products.
AIR Sourcing allows brokers to compare the cost of products, taking into account not only interest rates but incentives such as cashback and fees.
Advisers can print off a KFI and apply online with providers.
The system, developed by the firm Answers in Retirement, is available for free. It will offer products with enhanced terms for members of the Equity Release Club and Later Life Academy.
Answers in Retirement marketing and distribution director Ray McCarthy says: “It is very pleasing to be able to announce that the AIR Sourcing system is now fully functional and advisers are able to both register and start using the software immediately. We believe this is a significant moment for both the equity release and the lending to older borrower sectors because we are offering advisers the ability to source products from across these areas and to ensure they can deliver the right advice and recommendations based on their client’s wants and needs, plus the much more stringent affordability requirements they will have to go through.
“Our focus is now on ensuring advisers are supported and trained to be aware of the ever growing range of suitable products that lenders and providers are bringing to market, plus (perhaps more importantly) the consumer choices and protections offered by these different set of products. To that end, we are offering advisers access to the Equity Release Club Development events which will open up access and support to a broader range of advisers.”