LV= in deal with Age Partnership for equity release advice
LV= has agreed a deal with Age Partnership to refer customers who contact the insurer directly about equity release to the broker for whole-of-market advice.
The life company offers its own equity release products through intermediaries.
The deal with Age Partnership follows a number of recent developments at LV=.
In August, the lender launched a new drawdown product – Lifetime Mortgage Drawdown+ in addition to its Lump Sum+ product.
It also launched an adviser portal to allow brokers to submit and track cases online.
LV= managing director of savings and retirement Clive Bolton says:
“The equity release market has grown over the past decade and consumers increasingly understand that it is an increasingly mainstream retirement planning option for people who want to unlock the value in their home to enjoy the retirement they want.
“This development of our direct marketing capability and agreement with Age Partnership will help us grow the market by leveraging the appeal of our trusted brand credentials and enable consumers to speak to expert advisers who can help find them the most suitable equity release plans on the market.
“LV= chose to work with Age Partnership due to their expertise in advising later life clients and the high quality experience they deliver on behalf of partner brands.”
Age Partnership commercial director Dan Baines says:“We’re delighted to be supporting LV= and its customers with the provision of high quality whole-of-market advice in this increasingly important sector.
“LV= has been a respected product provider for many years now, and through this collaboration we are excited to be adding an outstanding advice service to the range of options that it offers.
“Equity release products now deliver a combination of value and flexibility that is better than ever and the sector has a key role to play in later life financial planning.”