​Paradigm to run an equity release workshop in October

Paradigm Mortgage Services is to hold an equity release workshop exclusively for its members in October.

It is being run in conjucntion with equity release provider Just Retirement, and aims to help advisers make equity release a “new profit centre” within their businesses.

Issues to be covered include current market trends and future opportunities, spotting potential within a client bank as well as the use of data-mining to target specific groups and how best to use equity release in relation to clients.

Representatives from Just Retirement will also review the equity release process and discuss elements to help advisers provide quality advice.

Paradigm chief executive Bob Hunt says: “Equity release is very much a niche market at the moment, though we fully anticipate that market demographics and the changing face of pension and long-term care provision, mean it will become more of a consideration for those in retirement.

“Our workshop next month is for members to hear about the ways they can distinguish potential equity release clients and will provide real practical help and support.”

Equity release specialist Craig Robertson says: “I feel that mortgage brokers certainly should be more alive to opportunities available through the equity release market.

“For example, many will have clients approaching retirement with an interest-only mortgage and no means of paying it off. In such cases remortgaging to an equity release loan is certainly one potential solution.”