New to lifetime mortgages?

Whether you're wanting to advise on lifetime mortgages yourself, or prefer to refer your clients, we can help you take advantage of the market.

From practical information, tools and guidance, to dedicated support from your account manager, all designed to help you explore the right solutions for your clients.

Step 1 – identifying possible lifetime mortgage clients

No two lifetime mortgage clients are alike. Each client should be thoroughly assessed to understand their circumstances, needs and objectives. This includes an understanding of your client’s:

  • Future plans
  • Ongoing commitments
  • General state of health
  • Possibilities of future house moves
  • Income and expenditure for present and future needs
  • Preferences for their estate
  • Estate planning (will/s and potential inheritance tax liability, if any) and the impact of taking a lifetime mortgage
  • Impact of needing to enter long-term care in the future
  • Eligibility for state benefits and the impact of taking a lifetime mortgage
  • Access to other sources of funding (i.e. trading down, local authority grants, use of savings, re-mortgaging etc.).

Step 2 – deciding to advise or refer

From case studies and sales aids, to product literature and online tools, we have a suite of resources to ensure that you're in a position to understand the nuances of lifetime mortgages when advising your clients.

Get qualified

If you’d like to advise on lifetime mortgages but aren’t yet qualified, we can help. You can enrol for our Equity Release Academy which covers topics that will help with your exam preparation.

Or refer

If you’re not qualified to advise on lifetime mortgages, or have a client with requirements outside your business threshold, you may prefer to refer.

Step 3 – making a recommendation

The Equity Release Council has created an adviser guide to help you set up or develop your equity release business. It outlines the features of the available product propositions, supporting you in the practicalities of setting up your marketing portfolios.

Step 4 - other considerations

Given the lifetime commitment to the product, your client’s family is strongly recommended to be involved in the advice process and any decision making.

Both your client and their family must be given ample time to make a decision.

As it’s an Equity Release Council requirement, you should always recommend your clients to appoint an independent solicitor of their own choice to assist in the legal processes should they proceed to application.