Chris Smyth – Business Development Manager, LV= Equity Release
With the growing popularity of Equity Release and the constant market changes, more and more advisers see lifetime mortgages as part of a holistic financial planning process to help their clients in later life.
In this evolving and exciting market, the number of product choices and options for clients continues to increase and equity release is fast becoming a mainstream area of advice. However more choice can bring more complexity for advisers and that’s where LV= can help.
What matters to you matters to us and that’s why at LV= we are here to support advisers every step of the way, providing carefully designed products, great service and making meaningful changes and enhancements based on adviser feedback.
To work in true partnership with advisers and to offer a proposition which meets key client needs, lenders must hear the voice of the adviser and understand the changing requirements of clients. Here at LV= we made a number of improvements late last year to increase our underwriting flexibility for Lifetime Mortgage Lump Sum+, as a direct result of regular engagement with advisers active in this market. And this process is continuous to ensure we don’t stand still.
With Equity Release becoming more popular solution for clients approaching retirement, LV= is recognised as a well-known and trusted provider, having been in this market for more than 10 years. We also take our responsibilities as a lender very seriously, making decisions with great care and with the client’s best interests at heart.
We are on a mission to build on this perception by adding more value to advisers and their clients in the way we do business. Advisers can expect some fantastic developments coming later in the year, which will transform the way they do business with LV= and help them meet their clients’ needs.
The newly released data from The Equity Release Council highlights a record high start to the first quarter of 2019.The report unveils that £936m of housing wealth was unlocked by homeowners aged 55+ during this Q1, which translates in 8% increase year-on-year.*
This data demonstrates a growing demand for Equity Release, and it is important that advisers feel confident in the lenders they use to provide solutions for clients. LV= Equity Release is recognising the importance of value-added services and our recently improved LV= Doctor Services gives clients in later life greater access to reliable medical support, completely free of charge.
This is also reflected in our approach to early repayment charging – simple and fair. Advisers and their clients should know the financial consequences if they decide to redeem their lifetime mortgage. LV= was the first lender to offer a fixed early repayment charging structure in this market and we continue with that to this day.
For more information, visit LV.com/EquityRelease or contact our LV= team on 0800 028 8974 (option 1) or email us on equityrelease.sales@lv.com
*Source https://www.equityreleasecouncil.com/document-library/q1-2019-lending-figures-press-release/
