ADVISER MATTERS send it via email .
• Paraplanners and support staff can produce KFIs or submit applications on an adviser ’ s behalf .
If you ’ re in the lifetime mortgage market and have a Just agency , these new features will help you work as efficiently as possible .
Reduced need for medical evidence It ’ s easy to assume that medical underwriting automatically means that a General Practitioner ’ s Report ( GPR ) will be needed . We only select a sample of cases to provide medical evidence and , rather than automatically requesting a GPR , we may accept , where appropriate , a client ’ s evidence ( e . g . repeat prescriptions or a consultant ’ s letter ). If a GPR is needed , we only send relevant questions – making it easier for doctors to respond .
A growing market – time to get personal According to the Equity Release Council , new and returning customers have accessed £ 3.46 billion so far in 2021 – surpassing previous years and putting the market on track for over £ 4 billion of activity during 2021 . That suggests huge potential growth in the lifetime mortgage market as an ageing population increasingly tunes in to using property wealth to support their financial aspirations in later life . Regulatory scrutiny is already being ratcheted up , but medical underwriting helps here too . The 2020 review of equity release firms by the Financial Conduct Authority raised concerns about personalisation of advice . It said : “ To give high-quality , suitable advice , advisers need to know their customers well , and understand their circumstances , requirements and motivations ”. The more you know about your clients , the more tailored the solution you can recommend . Unless you medically underwrite , how can you say you know your client or that you have found the best deal ? Personalised rates based on health information can now be combined with the wide range of options available via our Just For You Lifetime Mortgage ( cashback , interest servicing , early repayment charges ) to create solutions as unique as each client .
To find out more about how medically underwritten lifetime mortgages can help meet your clients ’ needs , visit justadviser . com
For more information call 0345 302 2287 , email : support @ wearejust . co . uk or visit justadviser . com
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