MIp20-21_1209:MI 2008 24/11/2009 16:34 Page 5
Equity release news
21
L&G Mortgage Club offers
Jon King,
managing director
equity release
of Hodge Lifetime,
stresses the
Legal & General Mortgage Club mortgages at Legal & General, said: referral process and KRS take care
importance of
has linked up with Key Retirement “We’ve chosen the UK’s leading of all the advice as well as keeping
Solutions (KRS) to offer an equity independent equity release the broker fully informed along the
looking after your
release referral service. specialist, KRS, for our Mortgage way.”
clients
Members can now access equity Club members. Some providers Legal & General Mortgage Club
Those readers who have known
release plans, including lifetime have left the market recently but members will benefit from market-
mortgages and home reversions equity release is a very important leading commission rates and can
me over the years, will know
from a range of providers. Clients segment of the market and looks register with KRS by visiting
my passion for “look after the
will benefit from exclusive set to play an increasingly www.keypartnerships.co.uk/partne
clients and they will look after
products and terms, as well as a significant role in funding rs/L&G or by calling KRS’
you”. It’s a sermon I am only
free initial consultation. retirement in the future. We’ve dedicated Partnerships team on
too happy to give to anyone
Ben Thompson, director, therefore set up a stress free 0808 208 4175.
who will listen.
It actually came from one of
the earliest pieces of advice I
IERAA and Charterhouse in
was given in the industry, and
it undoubtedly holds as true
today as all those years ago.
partnership
The most successful and
admired IFAs in the country
have put clients before short
The Independent Equity Release advice by experienced by making sure they have the right
term objectives and
Advisers Alliance and independent specialists to more tools to do the job.”
interestingly, many of the firms
Charterhouse Retirement clients across the UK.” Charterhouse is an Equity
are now best placed to deal
Solutions have formed a strategic Terry Pritchard, managing Release Services company that
with the many ramifications of
partnership, with the aim of director of CRS, said: “We share offers a wide range of solutions to
the Retail Distribution Review
jointly helping the Equity Release the same aim as IERAA which is those in the ER market, including
(RDR).
market grow over the next few to increase the industry and public lead generation, marketing
years. awareness of the benefits of assistance and a referral model for
And of course, many firms
Anthony Harris the Chairman receiving advice from experienced those intermediaries without
boast rightly or wrongly about
of IERAA said “We are excited by independent specialists. The two permissions. The company was
their service levels to clients –
the prospect of working in companies working together can originally founded by Michael
and undoubtedly, clients do
partnership with CRS as we look only further that cause, and CRS Holt and has Michael Bolton
respond to being treated as
to provide high quality ethical can help organisations like IERRA, (former edeus CEO) as a director.
individuals when transacting
business. This made it
particularly heart warming
Care Green Paper not comprehensive
when looking at the most
recent survey of clients who
have conducted business via
SHIP does not agree that the needs of the many are funded by by providing them with this Hodge Lifetime.
Government’s Green Paper the few. choice it not only allows them to Frequently, 90% plus of
on care provides a compre- "However, while we agree that make use of what is likely to be
clients rank the service received
hensive overview of funding the system needs a review, we do their largest asset, but also gives
from their IFA as ‘very good’ or
options. not necessarily agree that the them a wider choice of care
‘excellent’. The latest survey
Andrea Rozario, director Green Paper provides a option. Delivering a simple
prompted me to do a quick
general of SHIP, said: "We comprehensive overview of effective method by which those
calculation which pointed to
welcome the Governments review funding options - including entering long term care can
96.7% of clients over the last
of the UK care system and hope equity release. Under the current access an equity release scheme
two years ranking their IFA in
that through this process we will system with its maximum asset with all the safe guards and rights
- as a society - be in a position to limits, some older people have that people currently receive
these categories.
provide better services and been forced to sell their homes in from products offered by SHIP
Only one client over the
assistance for our more order to fund their care needs. members is something that is
whole period ranked the
vulnerable citizens. We are also This is a problem we believe will worthy of serious consideration.
service they received as very
pleased that they have decided continue under some of the "We hope that the Government
poor – quite an achievement.
not to significantly increase the funding proposals in the paper will take this opportunity to
Oh, and we also ask about the
tax burden on all UK citizens as and one that we believe equity work with the private sector to
solicitors service, their
the population is rapidly ageing release could help with. develop workable solutions to the
satisfaction level averaged at
and we would soon find "80% of the UK's wealth is very real care funding crisis the
under 90% - maybe I can ease
ourselves in a situation when the held by the older generation and country faces."
off on the sermons after all.
www.mortgageintroducer.com December 2009 Mortgage Introducer
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