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SimplyBiz Mortgages launches equity release offering

SimplyBiz Mortgages has launched an equity release proposition.

The scheme launched this week, gives SimplyBiz members a preferred selection of lenders and referral partners, specialised solicitors, product information and compliance support.

At launch the package offers exclusive offers on both LV= and Partnership products.

The proposition includes a referral service for SimplyBiz Mortgages members who do not hold qualifications to conduct equity release business.

SimplyBiz says it will soon launch a service giving members assistance in gaining the relevant equity release qualifications.

SimplyBiz mortgages chief executive Martin Reynolds says: “We believe that equity release is moving into its next stage of development for a number of reasons. Whilst we are beginning to see pension shortfalls, the key driver moving forward could be the interest only situation within the mainstream market.

“Where borrowers have no repayment vehicle in place, or a potential shortfall, moving to a lifetime mortgage may be their only option.”

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