Welcome to the second edition of the Equity Release Newsletter
It’s been great to see so many of you referring your clients to our ER advisers making the most of all of our financial services.
Here is just a quick reminder to keep promoting your ER services on your social media platform to ensure all your clients know you offer more than just Mortgages and Protection! It is also a great idea to speak to all of your clients about your ER services and you never know who they know!
Referral Link https://just mortgages equity release referral.paperform.co/
The link gives you the option to select a JM broker of your choice, Key Partnerships if you prefer or you can select no preference and we will nominate for you. Every referral will be responded to on the same day so none of your leads get missed. There is room for notes and questions on the form should you need to add extra information regarding the referral.
As we have now entered the final quarter of 2022, a huge thank you to you all for your commitment in driving ER to be the growing success that it is. We are excited to see what the future brings!
We are delighted to bring you the latest update on all things Equity Release and share some of the highlights from the recent months.
Firstly, a huge thank you to all of the Mortgage Advisers, AD’s and admin assistants who have connected with and sent referrals to our Equity Release team.
We are seeing some fantastic results from these referrals which should be a winning situation for all.
Just Mortgages Equity Release Issue 2 October 2022 *INTERNAL USE ONLY*
As headlines report inflation reaching a 40 year high the cost of living crisis is fast becoming a real concern for millions of UK households. With sky high energy bills, record fuel prices and price hikes across many products and services, families throughout the country are looking for ways to save money and boost their income.
Equity Release is one way over 55s can ease the pressure of the financial crisis. With over £740 billion of equity in their properties, it’s not surprising that a growing number of older homeowners are turning to their property as a financial lifeline.
far in 2022 our team of brokers have written over £253,000 worth of income and banked £135,000, with plenty more to come after the good written figures in the recent months. These are massive steps forward in our Equity Release business.
Just Mortgages Equity Release Issue 2 October 2022 *INTERNAL USE ONLY*
Brokers predict “explosion” of equity release use as cost of living worsens.
The cost of living
So
*Top 3 advisers to highlight are: Iain McKechnie 32 mortgages written £62k Jane Jackson 12 mortgages £33K Stephanie Seddon 16 mortgages £26k I am sure you will join me in saying “Well done” on some great results! *end of September figures
Equity Release lending reached a new quarterly high of £1.6bn in Q2.
This is the fourth consecutive quarterly period to close with record lending, and according to the Equity Release Council (ERC) the total amount released in the first six months of 2022 has surpassed £3.1bn. This is 36 per cent more than the previous half-year record of £2.3bn in 2021.
Lump sum preference
For the first time since 2009, new borrowers were more likely to choose lump sum lifetime mortgages over drawdown deals. Lump sum deals accounted for 54 per cent of new plans, compared to a share of 46 per cent of plans in Q1 and 45 per cent of plans in Q2 last year.
Just Mortgages Equity Release Issue 2 October 2022 *INTERNAL USE ONLY*
An Exclusive Invitation
Join Key Partnerships’ Alistair Morrison and Mariam Jarman on Thursday 27th October at 1:00pm as they take a closer look at the equity release market in the context of upcoming Consumer Duty regulation.
Consumer Duty and later life lending referrals
This 45 minute webinar will take a closer look at Consumer Duty and what that means for you and your clients.
Discussion points during the webinar will cover:
The later life borrowing landscape.
An overview of Consumer Duty and its impact on the later life lending industry.
What opportunities this brings about for your business and how Key Partnerships can help you and your clients.
Alistair and Mariam will also take your questions on the day.
Register Now
Just Mortgages Equity Release Issue 2 October 2022 *INTERNAL USE ONLY*
Just a Success Story
Jane Jackson has just written an Equity Release case worth nearly £7,000! The introducing broker will be paid £2,700 –just for referring a client across. If this is not reason enough to hunt for Equity Release and refer it, I don’t know what is!
Referral Reminder: https://just-mortgages-equity-releasereferral.paperform.co/
An Introduction to the team
Stephanie Seddon
Steph has been involved with Just Mortgages Equity Release since the start, she was part of the original pilot and has become an experienced and very successful Equity Release broker. Here’s what she has to say:
“I have been helping clients with Equity Release though Just Mortgages since September 2019 and during this time it has become one of my favourite areas to advise on.
When clients start to enquire about a lifetime mortgage, it is often something they’ve thought about for a long time and it’s a big decision for them, and one where I do feel I can really make a difference. Due to the nature of equity release, you really do get to know the client well, and most of the time you get to know their family too. This enables you to provide a very personal service and feel like you’re helping the whole family, not just the client themselves. I’ve seen such a variety of reasons why clients look to a lifetime mortgage, some who are looking to repay an interest only mortgage, or helping family out with buying their first property, and others who just want to enjoy their retirement and improve their standard of living. I even had a client who told me they had no one to leave their money to, and wanted to enjoy better holidays, and turn right when they boarded a plane!”
If the answer is yes, contact your AD in the first instance.
Just Mortgages Equity Release Issue 2 October 2022 *INTERNAL USE ONLY*
Do you want to have support to study for your Equity Release exams? Are you interested in passing your ER license course?
