You are here: Home - News -

Brightstar agrees later life referral partnership

by:
  • 14/08/2018
  • 0
Brightstar Financial has agreed a partnership with lifetime advice firm Sentry Lifetime to service clients referred to it with later life lending requirements.

 

Brightstar and Sentry will equally split the proc fee upon completion, with referring brokers receiving a portion of this.

Sentry Lifetime offers whole of market lifetime mortgage advice including equity release and is a member of the Equity Release Council.

The firm offers a free initial consultation but then charges clients a total fee of £495 – £250 at the point of recommendation and £245 when an application is made which is refundable if a mortgage offer is not obtained.

According to the Sentry website, brokers taking a direct referral partnership with it will only receive a 25% share of any procuration fee received.

 

Growing market

Sentry Advice managing partner Thomas Webster said: “Lifetime mortgages are the most popular form of equity release as they enable the borrower to retain ownership of the property.

“It’s an area of growing demand and our partnership with Brightstar means that brokers can access the opportunity even if they don’t have experience or expertise in this area.

“We will do the hard work and own the advice, but brokers can maintain ownership of the client and take a share of the proc fee.”

Brightstar said it maintained a no cross-selling guarantee on all referrals.

Brightstar Financial chief executive officer Rob Jupp said: “Demographics dictate that later life lending is one of the biggest areas of opportunity for brokers, but it is a specialist area and equity release has its own qualifications and separate permissions.

“By launching our later life lending service, we are enabling brokers to diversify their offering while maintaining focus on their core areas of business.”

 

 

There are 0 Comment(s)

You may also be interested in

  • RT @KeystonePF: We are getting ready for the @mortgagesols Buy to Let Market Forum next week, our BDM's will be on hand to discuss all thin…
  • RT @DanielleDennis9: There are only two weeks left to get your nominations in for #BMA2019 - vote now for your industry stars to make it a…
  • RT @montysblog: Jokers! Exacerbating the Mortgage Prisoner problem! Treasury sells 66,000 UKAR mortgages to inactive lender Citi - Mortgage…

Read previous post:
Geoff Hall, MD Berkeley Alexander
Exclusive: Berkeley Alexander expands high net worth service and hires two telephone BDMs

Berkeley Alexander has appointed two telephone business development managers with plans to recruit two more and it is readying to...

Close