Issue no.4 Oct 2017
L I F E T I M E M O RTG AG E
INSIGHT Retirement Included in this issue
The Premier Equity Release Club - a hub of knowledge for lifetime advisers
Why does the Equity Release Council exist?
Is the client’s retirement income enough?
By Nigel Waterson, Chairman, The Equity Release Council
By Aimee Looker, B2B Marketing Executive, LV
Page 8
Page 13
By Jane Hanlon, Club Manager, The Premier Equity Release Club
Page 4
Please note any information in this magazine is for registered intermediaries and NOT to be issued to members of the public.
To our September 2017 edition
The market is just so exciting, it feels as if it is ready to burst, with a large number of mortgage advisers starting to bridge the gap between standard into lifetime to meet demand. Many lenders are recruiting, also solicitors are growing. Which is absolutely great as lifetime/equity release is no longer considered the last resort, but now a financial transaction that is becoming very prominent in the market. The idea of this magazine is to keep all sectors of people working in this specialist market up-to-date with an overview on figures, changes, and information that could assist clients to achieve their goals or even new opportunities. We hope you enjoy the read, if you have any ideas or suggestions that you would like to see or even contribute please let us know. Without the help of Pure Retirement and their marketing team this production would not be possible, as a club covering the industry we would like to THANK THEM on everyone’s behalf.
Jane Hanlon, Club Manager, The Premier Equity Release Club
2017
Welcome
Time for the...
Your chance to nominate opens Monday 4th September and closes on Friday 6th October. Provider categories •
Best Provider Lifetime Mortgages
•
Best Provider for Adviser Support
•
Best Provider for Product Innovation
Financial Adviser categories •
Best Sole Trader
•
Best Financial Adviser - fewer than 20 employees (total employees)
•
Best Financial Adviser - 20+ employees (total employees)
•
Best Individual Adviser (An individual adviser from any firm)
Other categories •
Best Technology Innovator
•
Best Conveyancer
•
Best Surveyor
•
Best Business Development Manager (an individual from any firm - both telephony or face-to-face)
Click here to nominate
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LIFETIME MORTGAGE INSIGHT
Contents
4 The Premier Equity Release Club - A hub of knowledge for lifetime advisers 6 Education in later life lending 8 Why does the Equity Release Council exist and what does it mean for our members? 9 New range of Buy-to-Let and Second Home Lifetime Mortgages introduced to the equity release market 10 Just - exciting new changes to our Lifetime Mortgages 11 New tools - Pure’s new and improved broker portal 12 New tools - Retirement Advantage’s new online application system 13 Is the client’s retirement income enough? 16 Lasting Power of Attorney and Will referral scheme 18 Product changes from July 1st 19 Contact details and extra services
LIFETIME MORTGAGE INSIGHT Issue no.4 Oct 2017
The Premier Equity Release Club - a hub of knowledge for lifetime advisers The Club offers support to all levels. We will chat through individual cases, no matter the complexity. Giving you a unique approach and service to you and your clients. Our helpline is run by knowledgeable staff with in excess of 32 years’ experience. We know about home income plans, shared appreciation, retirement plus, roll up, optional payments, reversion.
Helpdesk for qualified advisers, to advise and recommend on equity release products direct to clients.
Meet some of the team
Mentoring support for advisers including specialists - the sounding board Club deals better than you get going direct Marketing allowance of up to £50 per case. All business needs to be routed through panel lenders and panel solicitors. Paid on completion of case. No need to build up points!
Lyn - Director
Aviva individual client pricing LET US WORK THE TOOL FOR THE BEST RATES Difficult cases, you are able to talk them through with us - that's what we do best
Jane - Director
Our team, fully compliance qualified, reviewing live ongoing cases on a daily basis We offer whole of market and have direct access to lenders’ underwriters
Jo - Broker support
All we ask is you quote using The Premier Equity Release Club the route to success. Contact us on 01326 567970 or Email helpdesk@thepremierequityreleaseclub.co.uk
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Lauren - Marketing
Pure Autumn Roadshow 2017 October 26th, 9am to 2pm, Village Hotel, Bury
Retirement
Looking to build your Equity Release Business? We'll help with the foundations...
Marketing Support for your business Pure Retirement
Sales, Communication & Influencing Skills Marc Hogan, Professional Motivational Speaker
The Adviser Journey Q&A
Goals
ss Busine
ation Inspir
Mark Lambert, Viva Retirement
ting Marke
e irem R et
ce rman Perfo nt
Equity Release: A Changing Market
Tom Moloney, Age Partnership
Power of Attorney
Chris Lyon, BBH Legal Services
ess Succ
e ledg Know
ucts Prod
Our Roadshows are free of charge, with lunch provided, on a first come, first served basis All attendees will receive CPD Certification
Contact marketing@pureretirement.co.uk to secure your place
And if you can’t make it....
Join our Free Live Webinars Retirement
Tuesdays 10-11am, September – November 2017
Learn more about the Equity Release Market in our Educational webinars this Autumn.
Lifetime Mortgages
With expert guest speakers including the Equity Release Council, Specialist Solicitors and Award Winning Advisers
Everything you need for the New ER Term Contact marketing@pureretirement.co.uk to find out more and reserve your place
LIFETIME MORTGAGE INSIGHT Issue no.4 Oct 2017
Education in later life lending
Retirement
By Paul Carter, CEO, Pure Retirement
Lifetime Mortgages are an increasingly popular solution for those looking to secure their financial future. Recent UK Finance research revealed increasing numbers of pensioners are retiring with insufficient income, many without paying off their mortgage and with limited savings, explaining why the demand for equity release is rising by a third year on year. 8,000 new plans were agreed in Q2 this year, an increase of 27% on Q2 last year, and lending hit a record £701 million. Demand is only set to intensify as the pressures of retirement income increase for the over 55s. According to the Equity Release Council, those making defined contributions of 8% will retire with a pension of only 15% of their final salary; only one fifth of what they would have received under the old defined benefits scheme. The pension tax introduced last year is a further cause for concern, where those who have saved for later life are now hit with a 55% tax charge on anything saved over the threshold limit. And with the recent rise in age for access to state pension, everything seems to be stacked against the comfortable retirement for which people work hard all their lives. Those with interest-only mortgages are particularly at risk, with almost two million homeowners unable to make payments on their underlying debt. Figures from the Council of Mortgage Lenders indicate that one in ten families will reach the end of their term, still owing the full amount borrowed with no plan in place for repayment. With the retirement landscape in such disarray, a recent report from the Council of Mortgage Lenders has highlighted the importance of helping today’s consumers
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navigate the options for funding their retirement and the nuances of the later life borrowing market. The over 55s have never been more in need of support and a clear understanding of the options available to them. In their Later Life Borrowing report, the CML summarise the crucial need for customer access to information, guidance and advice on all solutions that may be suitable for their needs. There remains a gap however between the advice of traditional mortgage lenders and advisers in equity release. Customers seem to get either one or the other with very little bridge in between the two, and this is where the problem lies. Greater understanding is needed across the board, for advisers to be able to give their customers the best range of options that best suit their needs. And to do this, more advisers need to be equipped with the right tools and training to be able to assist. Education is the key to making all options available to customers, and that education starts with the advisers. Roadshows, events and webinars are increasingly on the up and often free for advisers to attend.
Pure’s own Back to School webinar series runs from September to November this year, with detailed insight into equity release and the opportunity for live Q&A with expert speakers from the market. It’s not just about bringing advisers into the market however. It’s about the consistent provision of support for them once they are actively advising in equity release, and there have been numerous initiatives by lenders and clubs alike over the past 2 years, to make this an actuality. Online portal improvements from Pure Retirement and Retirement Advantage are the most recent examples of this, offering online applications and case tracking resources for advisers to simplify the day to day of their businesses. Marketing resources for advisers to improve communication with their customers have also been made readily available by the likes of Pure, Aviva and Just Retirement. With the right level of support, advisers will be able to confidently understand and embrace the option of equity release with their clients as a potential solution for their retirement needs, allowing them the financial resources for the future they deserve.
The Equity Release Council and Mortgage Business Expo are joining forces at the London Expo in October Weds 11th Oct 2017 The Mortgage Business Expo will take place on Wednesday 11th October in Hall 2 of London’s Barbican Centre in London. The 2017 Expo builds on the hugely successful, and busy, MBE London held in October 2016 including free CII CPD accredited seminar sessions. There will be a dedicated Equity Release/Later Life Lending Seminar Theatre with three distinct sessions, together with a panel debate in the main seminar theatre. The Council will also have access to a large open plan style stand with a central information area and literature racking. Council members who may not have the budget for a stand of their own, can join this open plan structure, where they can add a literature display of their own in an area within the stand, have a ¼ page in the event guide and extended entry with links on the website at a fraction of the cost of a full stand. As an alternative, should members wish to purchase their own stand, there are currently three stands around The Council area, which can accommodate 3x2m and 2x2m stands as required and the package includes lighting, power, a poseur table and two stools plus a ½ page entry in the event guide and extended entry with links on the website.
To register your interest in purchasing a stand or literature display please contact Mike Mikunda, mike.mikunda@clarionevents.com or 0207 384 7757, stating ‘Equity Release Council offer’.
LIFETIME MORTGAGE INSIGHT Issue no.4 Oct 2017
Why does the Equity Release Council exist and what does it mean for our members? By Nigel Waterson, Chairman, The Equity Release Council
The Council’s aims and objectives are centred on sustaining and growing this safe and innovative market, whilst ensuring continued focus is on positive outcomes for the consumer. We aim to provide unbiased information, educating the consumer, influencing policy and positioning equity release as a relevant mainstream option in the ‘At and In' retirement phases of our economic infrastructure. The chart shows the typical benefits a member of the Equity Release Council can enjoy.
Media programme Developing advertising campaigns and Vlogs to engage with the industry about the benefits of equity release and working to neutralise negative publicity Commenting on key issues / industry developments and engaging with journalists on behalf of the industry Providing regular updates via social media
Member Information Services Producing a definitive bi-annual market report Weekly parliamentary monitoring Access to a growing range of fact files (policy bulletins)
Linking you to customers
Technical bulletins and presentations to promote sector knowledge, best practice
Offering customers the ‘find a member’ search facility with downloadable contact details for all our members – is increasingly being accessed by over 1,800 consumers on average a month
Recent articles on equity release – ‘Media watch’, ‘FOS bulletins’
Use of Council logo on business materials – a kitemark that sets you apart and gives additional reassureance to your clients that you are abiding by The Council’s Statement of Principles
Policy and regulatory affairs Direct engagement with government, regulators and think tanks, through parliamentary briefings and other stakeholder events
Additional Membership benefits
Opportunity to influence policy through input into Council responses to consultations from government and regulators
Access to professional workshops and presentations
Keeping members up-to-date with political and parliamentary activities within the UK and EU
Providing members with opportunities to get publicity through The Council’s website, via Twitter and via the quarterly newsletter Offering members the chance to get actively involved by providing input to a range of Council Boards, Committees and Working Groups Adviser pack – Downloadable templates and information for your business including the adviser checklist Educational partner discount scheme; a 20% discount and first month free (plus other benefits) when joining the Later Life Academy
Our joint journey to market growth development The Council’s growing involvement in a wide range of conference and seminar programmes where you can join us on the exhibition stands or on conference programmes, expanding your network and delivering key messages We increasingly respond to consumer enquiries on equity release directly via phone & email and signpost them to members listed on the directory and to relevant useful information on the consumer facing pages of our website
If you are interested in joining the Equity Release Council, download a membership form from the website at: www.equityreleasecouncil.com email admin@equityreleasecouncil.com or call 0844 669 7085
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LIFETIME MORTGAGE INSIGHT Issue no.4 Oct 2017
New range of Buy-to-Let and Second Home Lifetime Mortgages introduced to the Equity Release market By Alice Watson, Head of Marketing, Equity Release, Retirement Advantage
Here at Retirement Advantage we’re committed to delivering innovative solutions to meet the growing needs of the over 55s. With the equity release market experiencing growth at record levels, we’ve listened to feedback from clients and advisers and have launched two new product ranges to meet clients’ needs. Our Landlord Options Our Landlord Options are a new range of products which can be secured on Buy-to-Let properties. The Buy-to-Let market is estimated to be over £250bn, and these products allow landlords to release cash from their properties tax free, leaving their entire portfolio intact. Clients can choose to service just the interest, make interest and capital repayments, or let the interest roll-up - and there are no affordability assessments on any of these options.
Our Second Home Options Our Second Home Options can be secured on properties which are available for the sole occupancy of the owner. The property must be used by the homeowner for a minimum of 4 weeks every year, but can also be let-out for a maximum of 4 weeks at a time. Like our Landlord Options, your clients can choose to make payments with no affordability assessments.
Product Overview The following options are available on both Buy-to-Let properties and Second Home properties;
Features
Interest Select Options
Voluntary Select Options
MER/AER 6.26%/6.44%
6.07%/6.24%
6.45%/6.64%
LTV-55/80 9%-34%
9%-34%
9%-34%
Payments Your client will receive a one-off lump sum and no payments are due. The interest is added to the loan each month for the life of the loan.
Your client can choose to service some or all of the interest. The payment amount can be between 50% and 100%, and the payment term can be from 5 years to the full term of the
Your client can make a contribution of up to 10% of the initial loan amount each year, without facing an early repayment charge
Product features
Lifestyle Options
Fixed Early Repayment Charges - £750,000 maximum loan amount - Free valuations, uncapped - No affordability assessments
Risks The Lifetime Mortgage will be secured on your property and you must adhere to the terms and conditions to avoid the risk of the property being repossessed.
More Information You can find more information about our Landlord Options and our Second Home Options by visiting retirementadvantage.com/adviser/products/equity-release
LIFETIME MORTGAGE INSIGHT Issue no.4 Oct 2017
Just - exciting new changes to our lifetime mortgages By Nick Brown, Propositions Manager, Retirement Lending, Just Retirement
Earlier this year we introduced early repayment charge flexibility. And more recently we added Lump Sum Lite to our lifetime mortgage range.
More flexibility for your clients We know that making decisions on equity release can be complex, especially where people are concerned that their situation may change. To help with this, introducing early repayment charge (ERC) flexibility to our Lifetime Mortgages brings these benefits: • The ability to make partial repayments (up to a certain percentage) immediately following completion, without incurring ERCs; and • No ERCs for joint borrowers, if repaid within three years of the death, or entry intopermanent care of one borrower. It’s important to note that these features only became available for new quotes from 27 March 2017 and don’t apply to existing mortgages.
New – Lump Sum Lite Lifetime Mortgage Lump Sum Lite is the latest lifetime mortgage solution from Just and became available from 26th June 2017. It’s been designed for people who wish to release a one-off lump sum, without the option to access additional money from a pre-agreed cash facility in the future.
Why choose Lump Sum Lite? • It usually allows a higher amount to be borrowed than with our Drawdown product. It may be suitable where the option to access additional money from a pre-agreed cash facility in the future is not required. A higher rate of interest will normally apply than with the Drawdown product. • Lump Sum Lite has lower loan to values (LTVs) and therefore a lower interest rate than our Lump Sum Plus product.
It’s all ‘Crystal’ clear As part of introducing the Just brand, following the merger of Partnership and Just Retirement, we’re changing our lifetime mortgage product literature. You’ll start to see that it not only looks different, it reads a bit differently too. To help make understanding our product information and other communications as easy as we can, we’ve worked with the Plain English Campaign to establish our very own, ‘Crystal Mark’ certified, Just language standards. Please note that as we transition to the Just brand some information will continue to be issued under Just Retirement Money Limited. We’re always pleased to help find a lifetime mortgage solution best suited to individual needs. For more information please contact our support team on 0345 302 2287 or email at support@wearejust.co.uk. You can also find various literature and information regarding our lifetime mortgages at www.justadviser.com.
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NEW LS TOO
LIFETIME MORTGAGE INSIGHT Issue no.4 Oct 2017
New and improved Retirement broker portal Home
Create KFI
Case Tracker
Applications
Marketing Toolkit
Upload Advice
Contact Us
Your Online Portal All the tools you need in just one place
At Pure, we’re constantly developing our service solutions in line with your feedback and evolving requirements, ensuring you have the tools at your fingertips to simplify the day-to-day of your business. Our refreshed broker portal is now live for your use, including Online Applications, Case Tracking facility and easier access to our ever-popular bespoke Marketing Toolkit service.
Applications to suit all your needs... Online - Saves content every step of the way - Customer signatures not needed - Underwriting criteria built into form - All submissions still reviewed by underwriters Paper applications still available
Find out more in the webinar with our Head of Technical Services
Hybrid online / paper apps accepted
Track all your cases in one place... An at-a-glance view of all your KFIs, Applications, Offers and Completions Review status updates on the progress of your cases, keeping you informed every step of the way
Access our portal
NEW LS TOO
LIFETIME MORTGAGE INSIGHT Issue no.4 Oct 2017
Retirement Advantage’s new online application system By Alice Watson, Head of Marketing, Equity Release, Retirement Advantage
All areas of life are being affected by an increase in the use of technology, and the world of financial services is no different. Technology is enabling rapid growth, and we’re so used to having everything at just the touch of a button away that paper based application systems now seem counter-intuitive to many. Here at Retirement Advantage we’re constantly listening to your feedback and looking at ways to improve the service we deliver. As a result of this, we’re happy to say that we’ve launched our new online application system. This system is directly linked to our KFI Generator, to make the application process as seamless and streamlined as possible, which ultimately results in better outcomes for your clients. Our online application system has a number of time-saving features too. It autosaves every few seconds, so that you don’t have to save at every stage of the application and you don’t run the risk of losing an application that you are midway through completing. We also know that you might not be able to complete an application in one sitting, so we’ve designed our system so that you can log out and continue completing the form at any time. In addition, once you have started an application, you can switch the KFI it is linked to without having to start a new one. The system also features helpful tool tips throughout. These tool tips are designed to help you navigate the system easily, and also to help you to identify when a property may not meet our underwriting criteria. It’s also easy to see whether
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you’ve completed all the mandatory question of a section, as each section has a status indicator which will turn green once it has been completed. If you’re registered with us, then you already have access to our new system. Once you’ve created a KFI in our KFI generator, an ‘Apply Online’ button will appear next to your client’s name and you can start submitting an application. From there, you’ll just need to follow the steps on each page. If you’re not registered to do business with us, and
want to access our new system, visit our website: retirementadvantage.com/adviser/products /equityrelease-system-log-on If you want to route your cases through The Premier Equity Release club you need to note them in section 2 of the mortgage club. For more information on our products and service, just visit retirementadvantage.com.
LIFETIME MORTGAGE INSIGHT Issue no.4 Oct 2017
Is the client’s retirement income 53% enough? 57 % Want their retirement income to cover home maintenance costs
By Aimee Looker, B2B Marketing Executive, LV= Research has found that many people expect their income at retirement to cover more than the essentials. 57% of those planning to retire in the next five years would like their income to also cover home maintenance costs, 53% would like the income to cover holidays and 24% said they’d like to leave money behind as inheritance. As well as this, 17% would like to use their income to help their children or grandchildren with a property purchase and 14% would like care costs to be covered. Getting client’s retirement income to stretch to the extra retirement costs is seemingly more and more difficult. It’s important to offer your clients a solution that is appropriate to help your clients address their needs. Equity Release could be the solution.
Equity Release with more flexibility than before We have taken on board your feedback and have made a number of improvements to our underwriting criteria to enable us to accept even more properties than before. Our refreshed underwriting criteria on our Lifetime Mortgage Lump Sum+ product includes: • We're now able to accept properties with extensions of up to 50% of the total floor space (including the extension) • We're now able to consider properties above commercial premises, so long as the property is not on the storey directly above. Type and concentration of commercial premises will be individually assessed
Want their retirement income to cover holidays
• We've increased our maximum flat roof percentage to 50% where it is constructed from more modern and durable materials (but excluding felt) • We’ve simplified our service charge criteria for leasehold properties, introducing a cap of 1.5% of the property value*. Our team of equity release specialists can assist with product information, details of our lending criteria and can also produce equity release quotations for you. They are also happy to discuss individual cases with you to see if we can find a solution for you and your clients. Please contact our expert sales team, if you would like to find out more or discuss any potential cases.
T: 0800 028 8974 E: equityrelease.sales@lv.com Lines open 8.30am – 5.30pm Mon – Fri We may record and/or monitor calls for training and audit purposes. For text phone dial 18001 first. Liverpool Victoria Friendly Society Limited, Pease House, Tilehouse Street, Hitchin, Herts, SG5 2DX LV= is a registered trade mark of Liverpool Victoria Friendly Society Limited and a trading style of the Liverpool Victoria group of companies. LV Equity Release Limited is registered in England (No 1951289) and is authorised and regulated by the Financial Conduct Authority (register number 306287). Registered address: County Gates, Bournemouth, Dorset, BH1 2NF. Tel: 01202 292333. For UK Financial Adviser Use Only *Leasehold sheltered accommodation still assessed on a sliding scale. The state of retirement research was carried out by Opinium, on behalf of LV=, who conducted online interviews with 2,404 UK adults between 17th and 27th March2017. Data has weighted to reflect a nationally representative audience. WS 16931 08/17
24% Want to leave their retirement income behind as inheritance
17 % Want to use their retirement income to help their family with a property purchase
14 % Want care costs to be covered
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How it works... 1. Choose from a range of themes carefully designed to project the right image for your business. 2. Enhance the appearance and functionality of your website with our optional upgrades. 3. Send us your order We review the order and contact you to confirm your precise requirements. We'll then build your website and populate it with the content you provide. We look after all the technical stuff, and you can rest secure in the knowledge that our free Customer Support is there to help at every stage. Your site comes with an easy-to-use Content Management System, so you can choose to update the site yourself – or we can do it for you.
...Fully supported websites at unbelievable prices Your website fully built and launched from as little as
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Exclusive discount for Premier Equity Release Club members
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Flexible Lifetime Mortgage: Features - why you should choose Hodge
Ratio of initial lump sum to reserve - a minimum initial loan of
Downsizing Protection as a standard feature – not 1st death
£15,000 available with a facility of 10 x reliant and no time-scale for use. the initial loan amount borrowed subject to Downsizing protection is available for the max LTV. life of the plan and means that after 5 years, if your client sells up and repays Fast Access to withdrawal from the sale proceeds, no ERC applies. funds – minimum withdrawals of £1000 transferred within 48hrs of request with a Customer downsizing in first 3wk cooling-off period to return all of the 5 years - In years 1-5 only the fixed money taken penalty free if clients change 5/4/3/2/1% charge is applicable, this their minds. would be based solely on the initial amount withdrawn, not on any additional No limit on number of draws taken. withdrawals - monies can be Up to 10% flexible repayment taken as often as the customer would option available from day like subject to available facility, and one - no restriction on withdrawals without penalty.
should a client have made a FRO repayment in the same year (and vice versa), 10% allowance increases with every withdrawal taken.
Withdrawal interest rates are the same as new business interest rates - we do
not differentially price the initial lump sum, all intermediaries get the same rate.
We state that if a drawdown request is ever declined we would waive all ERCs in the event of full repayment - this
can offer peace of mind to customers who may rely on regular withdrawals.
REDUCED RATES AVAILABLE ON DOWNSIZING PROTECTION PLANS FLEXI RATE 4.21% MER LUMP SUM RATE 4.02% MER
REFER AND EARN £400*
Lasting Power of Attorney and Will Referral Service By Tania Stretton, Director at The Right Will and Estate Planning
The Premier Equity Release Club are pleased to announce that we have partnered with The Right Will and Estate Planning Ltd to offer a referral scheme for Wills and Lasting Powers of Attorney to our club members.
What is a Lasting Power of Attorney?
Why is it vital planning? If your client should lose mental capacity then they may be unable to do the following without a Lasting Power of Attorney: They will be unable to access further draw downs on their property They may be unable to access joint bank accounts Loved ones will be unable to pay bills on your client’s behalf
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We are delighted with your service, in this day and age it is fantastic to be able to get in touch with the team so quickly and not be listening to on hold music for 10 minutes, it is a breath of fresh air!
Your client’s loved ones will be unable to move them to a different care home if they feel unhappy with the standard of their care
Paul Holman, Holman and Partners You provide a great service and your customer support is exceptional! When any of you say you will do something, it is always done and always in a most professional manner.
Doctors, rather than your client’s chosen person, will decide on whether to give or refuse life sustaining treatment
*£400 is based on a couple having a Mirror Will and Lasting Power of Attorney each
Client testimonials
Mr and Mrs Farley
Mr and Mrs Carr
I would recommend The Right Will as they are so friendly and helpful. No matter when you phone they are there to help you and give advice. Thank you for your help and kindness, we will be recommending you to family and friends.
We had been meaning to get our LPAs sorted for ages but kept putting it off. It was so convenient to be able to get it all done over the phone and the staff were incredibly friendly and polite. Thank you for your help!
How to get started 1
Visit www.rightwilladviser.co.uk/tperc-refer-and-earn
2
Watch our 5 minute video about Wills and LPAs so you can explain it to your clients
3
Complete our one page referral form with your client's details
4
We contact your clients and complete the business
5
We send you your commission
Get in touch for further information 01564 732 740 admin@therightwill.co.uk
LIFETIME MORTGAGE INSIGHT Issue no.4 Oct 2017
Rate changes from 1st July 2017
Lender
Product
Lowest Rate
Aviva
Flexi Lump
Please note that each Aviva case is individually assessed.
Hodge
Retirement Flexi Life Lump Lifetime Plus Lifetime Max Indexed >55 Indexed Plus Indexed Max
3.79% 4.79% 4.59% 5.09% 5.59% 3.00% 3.40% 4.54%
3.79% 4.29% 4.09% 5.09% 5.59% 4.00% 4.50% 4.54%
3.79% 4.29% 4.09% 5.09% 5.59% 3.53% 4.03% 4.54%
Just Retirement
Roll Up Lump Sum Lite Lump Sum Lump Sum C/Back £1000
5.29% 5.29% 5.62% 5.72%
5.29% 5.29% 5.62% 5.75%
5.29% 5.29% 5.62% 5.72%
Legal & General
Flexi Flexi C/B Flexi Plus Flexi Plus CB 2% Flexi Max Flexi Max CB 2% Flexi Max Plus Flexi Max Plus CB 2% Premier Range
3.89% 4.09% 4.25% 4.45% 5.20% 5.40% 5.69% 5.89% 3.74%
3.94% 4.14% 4.35% 4.55% 5.30% 5.50% 5.74% 5.94% 3.79%
3.89% 4.09% 4.25% 4.45% 5.20% 5.40% 5.74% 5.94% 3.79%
LV=
Flex Lump Sum
6.04% 3.80%
6.04% 3.9%-5.05%
6.04% 3.80%-4.93%
More2life
Tailored Enhanced Capital Choice
6.37% 4.79%
6.37% 4.93%
6.37% 4.79%
Onefamily
Lump Lite CPI Lump Lite Fixed Lump Standard CPI Lump Standard Fixed Voluntary Lite CPI Voluntary Lite Fixed Voluntary Standard CPI Voluntary Standard Fixed Interest Lite CPI Interest Lite Fixed Interest Standard CPI Interest Standard Fixed
3.56% 5.00% 3.76% 5.50% 4.06% 5.50% 4.27% 6.00% 3.56% 5.00% 3.76% 5.50%
3.56% 5.30% 3.76% 5.80% 4.06% 5.80% 4.27% 6.30% 3.56% 5.30% 3.76% 5.80%
3.56% 5.00% 3.76% 5.80% 4.06% 5.80% 4.27% 6.30% 3.56% 5.00% 3.76% 5.80%
Pure Retirement
Drawdown 1 Drawdown 2 Drawdown 3
6.29%-6.84% 6.04%-6.59% 6.44%-6.99%
6.39%-6.99% 6.14%-6.74% 6.54%-7.14%
6.29%-6.84% 6.04%-6.59% 6.44%-6.99%
Retirement Advantage
Interest Gold Interest Platinum Voluntary Gold Voluntary Platinum Lifestyle Lite Lifestyle Gold Lifestyle Gold Plus Lifestyle Platinum Lifestyle Platinum C/Back 3% Lifestyle Interest Select Voluntary
5.49% 5.99% 5.69% 5.89% 3.99% 4.38% 5.59% 6.58% 6.88% 6.44% 6.24% 6.64%
5.49% 5.99% 5.69% 6.29% 3.99% 4.38% 5.59% 6.58% 6.88% 6.44% 6.24% 6.64%
5.49% 5.99% 5.69% 6.29% 3.99% 4.38% 5.59% 6.58% 6.88% 6.44% 6.24% 6.64%
New New BTL & Seconds
Highest Rate
Current Rate
Please always check lenders rates and commissions as this can change without notice.
18
LIFETIME MORTGAGE INSIGHT Issue no.4 Oct 2017
Contact details and extra services Lenders
Solicitors
Sourcing
Aviva www.aviva-for-advisers.co.uk 0800 015 4909 KFI’s call 01326 567970
Ashfords 01392 334060 £495 + VAT + disbursements for club members. Ashfords London Premier Service £750 + VAT + disbursements for quicker turnaround by 5-10 working days.
Iress- free www.thepremierequityrelease club.co.uk Registration on home page left scroll down.
Bridgewater 08451 4050600
BBH 0800 051 4218 www.bbhlegal.co.uk £695 incl VAT for club members.
Crown 0208 875 5665 Mark King
Gilroy Steel 01604 620890 www.gilroysteel.co.uk £495 + VAT for club members.
Freeben www.freeben.co.uk 30 day free trail and £40.50 per annum with 10% discount per annum for club members.
Hodge Lifetime www.hodgelifetime.co.uk 0800 731 4076
Just Retirement www.justadviser.com 0845 302 2287
Marketing deals available.
Legal & General www.legalandgeneral.com/adviser centre 03330 048 444
NEW LPA /WILL Service
LV= www.lvadviser.com 0800 028 8974
The Right Will and Estate PlanningRefer-to-earn 01564 732 740 Or admin@therightwill.co.uk
WEB Services
Website for IFA made to measure from £145 for 12 months. From Freeben, call Jane 01326 567970
More2life www.more2life.co.uk 08454 150 151 Onefamily www.onefamilyadviser.com 0800 802 1645
PI COVER
Pure Retirement www.pureretirement.co.uk 0113 3660 599
The PI Desk Market leading with 18 years experience in FS. Call Jane 01326 567970
Retirement Advantage www.retirementadvantage.com 0800 068 0212
Benefit software.
Equity Release Council www.equityreleasecouncil.com 0844 669 7085
Retirement
Please note any information in this magazine is for registered intermediaries and NOT to be issued to members of the public.