View more on these topics

Taking the lead with equity release advice

JON KING, MANAGING DIRECTOR, HODGE LIFETIME
JON KING, MANAGING DIRECTOR, HODGE LIFETIME

Recent developments in the equity release market confirm our belief that IFAs represent the best way to get these products in front of clients.
And the demise of a number of big direct sales forces in recent years would appear to support this position.

But the problem is that many IFAs report they have few clients in the right age range and socio-economic group to support marketing campaigns that promote this area of business.

Also, many have chosen the approach of obtaining referrals from their existing clients. When combined with a local solicitor practice this route can work well.

Recent Safe Home Income Plans figures indicate that around three-quarters of all new business comes via intermediaries. This makes a recent Aviva report all the more surprising. It found that 86% of consumers over the age of 55 do not have an active relationship with a broker.

In other words, most of the people considering this product will have to find advisers to help them.

This is a huge opportunity to pave the way to new clients and, as most elderly individuals want to involve their families in the decision, gain access to even more potential customers.

As politicians wake up to the role of equity release in socio-economic planning advisers would be wise to consider their role in a changing landscape.

Recommended

cap_comp.gif
5

CAN YOU HAVE A POP TO WIN THIS POSH MONTBLANC ROLLERBALL PEN?

Drawbridge Finance’s Mark Posniak (left) and Jonathan Samuels (centre) at the lender’s official launch party last week Can you put the boot in to your nearest and dearest to win this super-stylish pen? Submit a witty caption for the photo above and you will be automatically entered into our prize draw. Remember, the funnier it […]

ALISON BEECH, BUSINESS RELATIONSHIP DIRECTOR, VALUNATION

Price must be right, even in a downturn

Valuers face a range of challenges in a housing slump, as changing lending criteria and the departure of some players compound the usual factors that cause an imbalance between supply and demand. Lack of comparable transactions and unreliable data make accurate valuations harder. And the pressure only increases as applicants are more likely to question […]

1

Northern Rock cuts rates on Everyday range

Northern Rock has cut rates on selected deals within its Everyday mortgage range by up to 0.3% and launched additional rates for residential and buy-to-let business.

Newsletter

News and expert analysis straight to your inbox

Sign up