The Changing Face of Equity Release: Innovation & Flexibility for Customers
The equity release market is evolving rapidly, with innovative products reshaping the landscape and offering more flexibility than ever before.
As mortgage and wealth advisers, it’s crucial to stay informed about these advancements, particularly for older clients who may find that traditional products no longer meet their needs.
Historically, equity release products were often seen as rigid, with little room for customers to manage their borrowing costs. However, the latest offerings are designed with flexibility at their core. More lenders now provide options which allow borrowers to make both voluntary and contractual interest payments, thus reducing the overall cost of borrowing over time. This is a game-changer, giving clients more control over repayments, whilst still benefiting from the cash unlocked from their homes.
One such innovation is the new more2life Flexi Interest Reward product, which offers significant advantages for customers looking to manage their borrowing effectively. This product allows borrowers to make interest payments, rewarding them with a reduced interest rate for doing so, depending on the level of payments being made. This innovation, paired with their bespoke pricing model, makes for a great option for all types of clients.
Additional innovations such as downsizing protection, inheritance guarantees, and capital repayment options mean that modern equity release plans are more customer-centric than ever. These developments ensure that clients can access funds without compromising their long-term financial well-being or their legacy plans.
For advisers, understanding these new equity release solutions is essential. By guiding clients towards products that align with their specific needs—whether it’s managing debt, supplementing retirement income, or supporting family members—you can help them make informed financial decisions.
As Ken Cadman, from The Equity Release Experts puts it:
“The new flexible equity release products, such as the more2life Flexi Interest Reward, allow us to provide our clients with tailored solutions that truly fit their personal and financial needs. By enabling both voluntary and contractual payments with the added benefit of reducing interest rates, these innovations ensure better financial outcomes for our clients, giving them greater control and peace of mind in later life.”
At Key Partnerships, we specialise in providing expert equity release advice tailored to individual circumstances. If you have clients who could benefit from exploring these innovative solutions, refer them to us and let’s ensure they get the best possible outcome. The equity release market is changing for the better—offering greater flexibility, lower costs, and enhanced financial security. Now is the time to embrace these innovations and help your clients make the most of their later-life lending options.
