Mortgage Express is now available on the Exweb equity release trading platform.
Using the equity release trading platform, financial intermediaries can now research, quote and source equity release products from a total of 11 lenders.
Figures from the Council of Mortgage Lenders show equity release mortgages newly advanced in 2004 totaled 1.2 bn, up 10 per cent on 2003. Based on current market dynamics Mortgage Express predicts that gross advances in the equity release market may reach 3bn in 2008.
The equity release trading platform covers both lifetime mortgages and reversion schemes and has recently been upgraded to facilitate the production of Key Facts Illustrationsin line with the FSA MCOB regulations.
The Exchange managing director David Child says: “Equity release gives advisers the opportunity to not only provide their clients with valuable advice on a complex financial product but also on what do with the money once it has been released from their property. The Equity Release Trading Platform consolidates the majority of this market into one place enabling advisers to take advantage of one of the fastest growing product sectors in the market.