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Bower repositions high-net worth equity release advice service

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  • 09/02/2016
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Bower repositions high-net worth equity release advice service
National equity release advice firm Bower Retirement has launched Bower Private Clients to target million pound plus homeowners initially in London and the South East.

Equity Release Award-winner Bower Retirement is offering bespoke equity release product rates and terms for customers as the market evolves toward a broader view of later life lending.

Bower is working with private banks, accountants and law firms to service clients with more complex circumstances, including interest-only mortgages, Inheritance Tax concerns or those keen to gift large amounts to family for property purchases.

Andrea Rozario, chief corporate officer at Bower Private Clients, (pictured) said: “We can offer product both within and outside normal lending criteria and have access to the decision makers, including the surveyors and the lenders.”

High-net worth remains a niche but later life lending as a whole is going to evolve and be driven onwards by both mainstream providers and lending solutions away from standalone equity release products, she added.

Bower analysis shows more than 36,000 £1m-plus homes have been bought without mortgages in England and Wales in the past five years – more than 85% of those deals were in London and the South East.

On the fact mortgage advisers occasionally fail to identify and sign post on equity release clients, Rozario said: “Advisers have a moral obligation to service every need even if they are not in a position to transact when they have taken on a certain position in a professional industry.”

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