You are here: Home - News -

Age Partnership advises on a quarter of all equity release sales

by:
  • 07/05/2015
  • 0
Age Partnership advises on a quarter of all equity release sales
Retirement specialist Age Partnership advised on a quarter of all equity release sales which took place in the sector in quarter one 2015, results from its Q1 trading update revealed.

This compares to 20% of all equity release sales in Q1 2014.

It advised 23% more clients compared to the same quarter in the previous year. Year-on-year the number of equity release products grew 2% in Q1 2015.

The firm said its boost in sales was driven by its focus on face-to-face customer meetings whereas previously it had only offered customers a telephone service.

“We have always had a strong phone-based service but adding in our field-based adviser team has made a huge difference to our business,” said technical manager – equity release Simon Chalk (pictured).

The firm has also increased its marketing budget to allow it to reach customers on a national scale.

Chalk said Age Partnership’s objective was to continue to take a growing share of the expanding equity release market.

“Our view is that the new pension freedoms mean equity release will continue to become an increasingly mainstream option as clients use the value locked up in their home as part of their overall retirement income strategy,” he said.

He added: “We have a very strong offering for pension income as well as equity release and we expect to see more clients that approach us for pension advice to also seek advice on equity release.”

In a feature, out on Mortgage Solutions today, Age Partnership’s Chalk talks through the options for clients with an unencumbered property being turned down by mainstream lenders when trying to raise a mortgage on it.

There are 0 Comment(s)

You may also be interested in