Do your clients know about the plan features available?

The equity release industry has seen huge levels of product innovation in recent years with now over 300 products on the market.

Some of the modern features allow customers to protect inheritance, pay off interest or use their property to generate a regular income. Check out some of the recent innovations in more detail below.


Inheritance protection

An 'inheritance protection' feature allows clients to protect a percentage of the future value of their home to leave as an inheritance, as long as they don't take the full release amount available.

Equity release lender more2life has a really useful tool which lets you see how this feature works and how it could affect your clients.


Drawdown plans

With an equity release drawdown plan, clients can take out small amounts whenever they need them from a pre-agreed facility. With some plans the minimum additional release is just £500, providing clients with even more future flexibility.


Fixed income plans

With some plans, clients can get a fixed income each month set for a period of time (e.g. 10 years) and from as little as £200 per month, providing them with a more financially secure future.


Partial repayments

Capital repayments
Clients can pay up to 15% of the initial loan each year (dependent on provider).

Interest payments
Clients can pay the interest on the loan so that it doesn't roll-up.  They can switch to a roll up plan if they no longer want to make these payments.

See how repayment options can work for your clients, click on the link below to use the more2life partial repayment calculator.

Referring to a specialist

The way features work often varies between lenders, so to ensure your clients are getting the advice they need, specialist advice in this area is vitally important.

Refer to Key Partnerships all we need is your client's, name, age and contact details and we'll take care of the rest.

Register for our introduction to equity release webinar

Wednesday 30th October, 2pm-2:30pm.