Hamptons joins KRS equity release mortgage club

Hamptons Mortgages has signed up to Key Retirement Solutions’ equity release mortgage club, Lifetime Advisory Services.

Following in the footsteps of Chase de Vere, which was LAS’ first subscriber, Hamptons’ qualified advisers will have access to training, integrated fact-finds and suitability reports, a research platform and end-to-end case tracking.

Kevin Duffy, managing director of Hamptons Mortgages, says: “KRS is at the forefront of initiatives in the equity release market and we are sure this one will help make execution in lifetime mortgages easier.”

Dean Mirfin, business development director at LAS, says: “This is the cr笥 de la cr笥 of mortgage clubs for trained equity release advisers who want to do better business for their clients. Dabblers need not apply.”

Brokers looking to join must be transacting a minimum of three equity release cases per month and members are required to undertake a five-day course if they do not already hold a qualification in this area or a three-day refresher course if they do.

Mirfin says this is to stop knowledge decay, which he believes is one of the biggest problems facing equity release advisers.

As well as raising standards and providing advisers with access to exclusive deals and competitive commission rates, subscribers could also save money on their professional indemnity insurance.

Mirfin says: “Our PI company estimates that brokers and IFAs could save 20% on their cover, which would pay for the service.”

Sponsored by Prudential, Just Retirement, Bridgewater, GE Life and Mortgage Express, the initiative not only aims to raise standards but also to encourage a larger market in equity release.