The improvements deliver richer product data, advanced modelling tools and improved API access, helping advisers provide more comprehensive personalised advice to their clients who are interested in equity release and other later life lending solutions.
Users of the system will now be able to see key data on the results screen such as the maximum available loan, the maximum loan to value and the maximum allowable overpayment without penalty, giving advisers a clearer view of product suitability and flexibility.
Advisers will be able to filter and sort products featuring fixed-interest payment terms by length, with clear indicators showing whether payments are mandatory or linked to product incentives.
Furthermore, an upgraded modelling screen enables advisers to illustrate the long-term effects of making interest-servicing payments over a defined period, including the impact of future withdrawals – providing clients with a more comprehensive financial forecast.
The enhancements are also available to third-party integrators, enabling partners such as the Premier Equity Release Club (PERC) to retrieve detailed data and documents seamlessly via the Iress API.
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Iress’ head of product for sourcing, Jacqueline Durbin, said: “We’re seeing rapid innovation across the equity release market, driven by both adviser demand and lender creativity. These developments are a direct response to that change and an important step in our broader strategy to bring together residential mortgages and equity release into a single, unified, holistic advice journey. Our goal is to give advisers the tools and data they need to guide clients confidently through every stage of their later life lending decisions.”
