Moneysupermarket will integrate ERG’s SmartER product comparison technology into its platform so people can research products before seeking advice.
Change the equity release experience
The ERG said this now positioned its technology arm Equitec as a unique offering to borrowers aged 50 and over.
Mark Gregory, founder and CEO at ERG said: “Partnering with Moneysupermarket brings about valuable change and is set to enhance the whole equity release customer experience.
“This has always been our goal and with the implementation of SmartER, which is swiftly becoming the key point of entry to market, consumer choice, independence and transparency has now been made more widely available.”
He added: “We understand the value this holds with consumers, given that there has been a sharp rise in the amount of people now using online tools for research purposes.
“Given the breadth and depth of Moneysupermarket’s customer base, we foresee that this partnership will support growth within the market.”
Ashton Berkhauer, general manager from Moneysupermarket, added: “We know more and more homeowners are looking to release equity to support their choices in later life. Our partnership with ERG allows homeowners to compare the equity release market and see the options that match their specific requirements.”
Identifying benefits
Jim Boyd, CEO of the Equity Release Council, said there needed to be more recognition of the benefits of equity release.
He added: “One of the biggest challenges facing the equity release industry is how to ensure that property is included when wider retirement conversations are taking place. To get a seat at the table, we need to continue to push for more recognition of the benefits of these products and make it easier for people to explore all their options.
“We therefore welcome the partnership between ERG and Moneysupermarket as it will help more people to have these vital discussions around property wealth during their retirement planning.”
ERG’s SmartER technology is available to advice firms and this can be integrated into an adviser’s website.
Gregory added: “Our suite of products form part of the one-system approach to our technology, completely aligned to Consumer Duty, going beyond the required guidance to form an industry-leading client and adviser journey.”
