The templates will now be available on the Finova CRM platform and can be shared with clients at any point in the advice journey.
Finova said it wanted to encourage advisers to bring up the topic of will writing with clients as only 44 per cent of adults in the UK have one. The firm said this was particularly important for joint buyers as it creates a clear distribution of assets if a co-owner dies.
The service will allow clients to determine how assets will be distributed as well as who will help with the probate process. Sail Wills said its probate service takes six to nine months to complete, compared to the 12-month industry standard.
Brokers using the service through Finova will receive the service at a discounted price and a portion of the fee will be paid to the adviser.
Many putting property at risk
Matt Harrison, director of sales – broker channel, at Finova, said: “When brokers touch base with customers looking for the right mortgage product, a key question is always: ‘Do you have a will?’. As the sobering findings from The National Wills Report reflect, the answer is often no, leaving many putting their property at risk if the worst happens.
“Finova is committed to expanding its broker services to ensure they can guide their clients toward a strong financial plan, whether that’s when they first purchase a home, remortgage or product transfer. By enabling brokers to offer self-serve options at reasonable prices, Sail Probate will empower them to make recommendations that satisfy the Consumer Duty’s requirement to put the client’s immediate needs first at every available opportunity.”
‘Wills are a necessary document’
Gemma Pitman at Sail Wills, added: “For many, the act of writing a will seems like a daunting or even unnecessary task. However, having a definitive will in place is not an optional extra. It’s a necessary document to support the person looking after one’s financial affairs after they pass away. Crucially, it also gives the holder something priceless: peace of mind. We are proud to partner with Finova to offer our speedy and efficient services to brokers at a reasonable and market-beating price.
“Homeowners deserve security, and by making it easier for brokers to guide their customers towards constructing a will, our hope is that more people will take this responsibility serious and view it as an integral part of the homebuying process.”
