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Right formula vital for equity release

As equity release plans are taken out by older home owners, the chance of clients suffering from poor health inevitably increases.

So it is paramount for brokers to understand this and take it into account when advising on equity release.

A key way of addressing this is to complete an impaired life application, providing an opportunity for brokers to enhance benefits for clients who are not in perfect health.

Impaired life products take into account customers’ medical circumstances and life expectancy to make the most of the value of their home and the equity they can release from it, often maximising the LTV available.

These applications are offered free to brokers and IFAs by ourselves and other providers.

Following the withdrawal of high LTV products from the market, the use of impaired products could also allow qualifying clients the opportunity to release more equity, or critically, allow for remortgaging to a lower interest rate, if appropriate.

Ultimately, the advice process in equity release focuses on minimising the eventual debt and this is affected by both how long clients live as well as the interest rate. So it’s vital to get the right product for every client.


Not-so in the pink

Pink Home Loans is treating its top Diamond Club achievers to a trip to Chepstow Races with luxury accommodation and the opportunity to play golf at the hotel’s championship golf course.

Select & Protect strengthens board

General insurance provider Select & Protect has appointed Paul Firkins to the board of Select & Protect, following a stint as its head of sales. Bruce Reid, managing director of Select & Protect, says: “I am delighted to welcome Paul to the board of Select & Protect. This appointment is important to the future of […]

Bradford & Bingley announces bonus scheme

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Trust me, I’m a provider

By Craig Paterson, Underwriting and Claims Philosophy Manager, Royal London Hard-hitting headlines “Dying mother of two is refused life insurance payout.”1 “What a way to treat a dying man: Grandfather refused life insurance claim.”2 “A widow betrayed by a life insurance company.”3 With headlines like these, it’s no wonder some consumers don’t trust providers. Trust […]


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