Paradigm Mortgage Services has added a new equity release referral option for members from Age Partnership.
Paradigm advisers will be able to register as introducers with Age Partnership from today if they have clients who require specialist later life advice.
The agreement includes a no-cross sale guarantee and access to a whole of market panel and exclusive products and Age Partnership is promising “market-leading introducer commission” of on average £1,429 paid within seven days of a case completing.
Paradigm Mortgage Services head John Coffield says: “The need for quality later life and equity release advice has never been greater, as older clients require a range of service particularly in terms of using the value of their properties in order to satisfy pre- and post-retirement demands.
“Just recently we’ve heard that equity release lending broke the £3bn a year barrier and the expectation has to be that this sector will continue to grow rapidly in the years ahead.”
He adds: “Not all advisers have the necessary authorisation or experience in the later life market to offer advice, however I suspect all advisers will be seeing a growing number of clients who need it.
“This is why we have formed this referral agreement with Age Partnership – proven specialists in this area – to allow Paradigm member firms greater choice when they introduce clients to experts in their field.
“Not only does it deliver the necessary advice to clients but it can act as a significant income-generator whilst at the same time adding a considerable string to the adviser’s bow.”
Age Parnership head of partnerships Adam Carnall says: “The later life lending market is enjoying rapid growth and raising awareness of the solutions available through the advisory community is one of the fundamental aims of our partnership proposition.”