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Welcome to Advise Wise Market News, the news feed where you can find the latest from the later life market, including rate changes, product and process updates and market events.

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Changes to Canada Life product range

Product Update

From Monday 3 October, Canada Life is temporarily closing its Lifestyle Select Options to new business, due to the current wider macro-economic conditions. Applications for the Lifestyle Select Options are paused immediately.

For pipeline cases:

  • If you have already generated an illustration, a linked application won't be accepted
  • If you have already submitted an application, Canada Life will continue to process the case
  • If your client already has an Offer, Canada Life will continue to process the case. Please be aware the expiry date can't be extended beyond the date stated in their latest Offer Letter. You can find the date the Offer is valid until on the covering letter of your client’s Offer letter.

Cash reserve facility withdrawals, further advances and Porting applications remain unaffected.

Published: 4 October 2022

Sovereign changes

Product Update

From Monday 3 October, Pure Retirement is temporarily reducing LTVs on the Sovereign range.

This will apply to new business, including further advances.

Please note that there will be no changes to the Sovereign Elite range at this time.

All KFIs are valid for 21 days from date of creation.

Published: 3 October 2022

L&G product withdrawals

Product Update

From 29 September, Legal & General has temporarily withdrawn all its Navy, Indigo and Violet product variants from new business sale. These changes are effective immediately.

For any pipeline cases where you have already generated an Illustration on L&G portal, the following deadlines must ALL be adhered to (including DIP, the step just prior to Full Mortgage Application):

  • Submit the DIP by 5pm on Thursday 06 October
  • The case needs to be offered by Thursday 24 November
  • Completion will need to take place within the 50 day offer validity period

L&G will continue to provide reoffers on the withdrawn products, limited to one per application, and these will be offered on prevailing rates at the time. To request a reoffer, please call L&G on 03330 048444 (Options 2, Option 1). You will not be able to do this through L&G portal.

Published: 30 September 2022

Why bother with SOLLA?

Market Events

When:

30 November, 10am

A Pure Retirement event.

Jane Finnerty Joint Chair of SOLLA will be taking your questions about SOLLA's Later Life Lending Standard (LLLAS). SOLLA helps people find equity release advisers who specialise and understand the wider financial implications of their advice. This session will discuss why you should bother with the LLLAS, the requirements to apply, a look at what you need to know, and recognition by LiBF.

Register

Published: 30 September 2022

Equity Release and Inheritance Tax Planning

Market Events

When:

9 November, 10am

A Pure Retirement event, with Chris Daems at Cervello presenting Equity Release and Inheritance Tax Planning.

With rising property prices there is a potential knock-on effect of people's estates becoming liable for inheritance tax. Chris will share his experience and findings on the current inheritance tax considerations, as well as "the window of opportunity" for clients to use equity release when planning their retirement and the likely effects when it comes to taxation.

Register

Published: 30 September 2022

Financial Reporter Later Life Lending event Stoke

Market Events

When:

20 October, 9am-1pm

Find out more and register

Published: 30 September 2022

Financial Reporter Later Life Lending event Bath

Market Events

When:

19 October, 9am-1pm

Find out more and register

Published: 30 September 2022

Mortgage Business Expo London

Market Events

When:

13 October, 9am-4pm

Join Pure BDMs, Ashley Sampson and Jane Mullan at the MBE. The event will feature CPD-accredited seminars and a wide range of exhibitors covering everything from equity release, mortgages, secured loans and commercial and bridging finance sector.

Find out more

Published: 30 September 2022

Financial Reporter Digital Equity Release event

Market Events

When:

11 October, 10am-12pm

Join Pure BDM, Daniel Edmondson, for a CPD-accredited digital learning event that will enable you to boost your offering to your clients.

Find out more

Published: 30 September 2022

Just Group Vulnerable Customer Awards - The results are in!

Market Events

Just Group is delighted to announce the winners of the Just Group 2022 Vulnerable Customer Awards. These nominated individuals and firms truly deserve recognition for their efforts in supporting vulnerable customers.

Find out who they are here.

Published: 30 September 2022

Emerald product update

Product Update

Pure Retirement is withdrawing the Emerald product range for new business from Friday 30 September.

Pipeline cases will continue with the usual deadlines.

All KFIs are valid for 21 days from date of creation and applications have 42 days to be offered.

Published: 28 September 2022

Later life care – are we doing enough to prepare?

General Update

Later life care is a topic that many find difficult to talk about but is one that should be addressed as your clients approach retirement age – or even before.

Canada Life latest research found that 72% of over 60s haven’t thought about planning for later life care, despite the fact that requests for later life care are on the rise.

Canada Life have been looking at the reasons why and the importance of encouraging your clients to think about their needs at different stages of retirement.

Find out more!

Published: 21 September 2022

Looking forward: a horizon view of later life lending

Market Events

When:

Friday 23 September, 9.30am

In the latest webinar from LV=, they’ll be discussing the topical issues impacting later life lending and the wider market. They’ll also be exploring how LV= is shaping its equity release proposition to better serve the needs of tomorrow’s retiree.

During this session, you’ll have the opportunity to hear from:

  • Georgina Oxton, Divisional Sales Manager – Equity Release
  • Chris Smyth, Partnership Development Manager – Equity Release
  • Jo Noone, Director of Customer and Adviser Experience
  • David Stevens, Saving and Retirement Proposition Director

45 minutes CPD is available.

Register here

Published: 15 September 2022

Energy Saver Cashback offer enhancement

Product Update

L&G have extended the Energy Saver Cashback offer to include Retirement Interest Only (RIO) Customers. They can also now receive 10% cashback on the total cost of home energy efficiency improvements, up to £1,000 on their initial advance.

L&G have added to the qualifying works list:

  • Draught stripping
  • Wood fuelled boilers
  • Solar (photovoltaic) panels subject to these meeting our lending criteria
  • They've also removed the restrictions around Double and Triple glazing on new or replacement windows and doors. Any installation of double glazing should now qualify for the scheme. In addition, all installations of energy efficient doors should now qualify for the cashback.

Tradespeople no longer need to be TrustMark registered and no longer need to meet PAS and Microgeneration Certification Scheme (MCS) standards when making the home improvements. L&G will just need to check improvements made are supplied and fitted by a professional and approved installer.

Claiming process:

L&G have removed the need for customers to register their interest within 30 days of completion. Instead, once the work’s completed within 12 months of the loan taking place, clients will be asked to provide L&G with an invoice and works documentation to start their claim.

Published: 12 September 2022

LV= valuation update

Product Update

An update on LV= valuation appointments:

SLA

  • Valuation appointment turnarounds have reduced throughout the Summer following a peak of 7-8 working days.
  • On average, LV= time from instruction to appointment is currently 6 working days, however once the Summer instructions are cleared shortly, this will return to LV= standard 5 day SLA.
  • Currently, one third of valuations are being undertaken within 3 working days.

Geographic Split

  • LV= have seen a reduction across all regions in turnaround times. The highest turnaround times currently are in Wales and the North West (8 working days).

Published: 7 September 2022

Emerald Cashback withdrawal

Product Update

From 2 September, Pure Retirement is withdrawing the Emerald Cashback products. All KFIs are valid for 21 days from date of creation.

Published: 30 August 2022

Ask The Expert - equity release during the cost of living crisis

Market Events

When:

6 September 2022, 10am

Malcom Tyrell, Business Development Manager at Just, joined by Craig Faulkiner Head Of Distribution, Advise Wise will host a live session where they will discuss the impact of the cost of living crisis on the equity release market, and what we can do to respond. 45 minutes CPD is available.

As this is the first event in a series, Just welcomes your suggestions for topics you’d like to see discussed to include them in the future; email your suggestions at events@wearejust.co.uk.

Register here

Published: 25 August 2022

L&G criteria changes

Product Update

L&G is making the following underwriting criteria changes on their Lifetime and Retirement Interest Only mortgage products. From 17 August, L&G:

  • consider Grade 2* in England & Wales and Grade B Listed Buildings in Scotland, in addition to Grade 2 and Grade C Listed Buildings.
  • consider Studio Flats over 30m2 internal space (min property value £100,000 and max property value £1,000,000.)
  • consider flats in blocks over 10 storeys as long as the flat is on the 10th floor or below.
  • consider lending requests for properties originally built with a 100% flat roof. Where properties have been extended with a flat roof, it cannot be more than 50% of the total roof area.
  • review lending requests for properties with more than 10 acres. This may suit clients who enjoy a rural lifestyle and keep livestock for non-commercial purposes

As a reminder, L&G also consider the following:

  • Properties with an annexe if it’s part of the legal title with shared services to the main building. This also includes properties where the annexe may have a different council tax band to the main property.
  • Cohabiting partners (Lifetime Mortgages only): for clients who are living together, not married and don’t jointly own the property.

Published: 22 August 2022

Pure Update with The Centre for Ageing Better

Market Events

When:

14 September, 10am

Join Pure and learn about our exciting customer facing technology developments with guest speaker Niall Ryan from The Centre for Ageing Better who will talk about “Challenging ageism and making communications age-inclusive”. In this session, Niall will outline the basics on ageism, where it exists in society and discuss some best practise examples.

Register here

Published: 12 August 2022

Heritage Criteria Changes

Product Update

From Monday 1 August, Pure Retirement is making some changes to the Heritage Criteria.

Heritage Super Max:

  • Ex-Public Sector Maisonettes – Pure will consider ex-public sector maisonettes subject to a min property value of £100,000 and a max of 2 storeys. The loan will be restricted to 85% of the max LTV – not acceptable on Heritage Super Max Plus
  • Shared Septic Tanks (4 properties) – Pure will consider properties with shared septic tanks provided it is shared between no more than 4 properties and there is a satisfactory formal agreement in place
  • Properties with 5+ Acres – Pure will consider properties with more than 5 acres (the property value will be based on 5 acres)
  • Properties with Minimal Commercial Use – Pure will consider properties with minimal commercial use (such as childminder, music teacher etc). Subject to appropriate building and public liability insurance being in place – not acceptable on Heritage Super Max Plus

Pure will also consider the following on the Heritage Super Max Plus product, which will require funder referral on application:

  • Properties with estate rent charges
  • Properties with more than 4 bedrooms
  • Properties with greater than 30% flat roof

Published: 1 August 2022

Pure Lifetime Mortgage Roadshow

Market Events

When: 8 September, 8.30am -1.30pm

An in-person, one-day conference for registered equity release advisers. Expect insightful discussions and presentations on topics that address the most important issues for you and your business. These topics will include inheritance tax, underwriting criteria, equity release market trends and technology.

Find out more

Published: 25 July 2022

The Unplaceable webinar

Market Events

When: 21 September, 10am

Join Pure's BDM Ashley Sampson, with speakers from Advise Wise and Equilaw, to discuss your hard to place cases.

Register now

Published: 25 July 2022

Mortgage Adviser Event 2022

Market Events

When: 29 September

Join one of the biggest events in the industry. Discover the future of financial services with seminars on the latest practices, equality and sustainability. Connect with like-minded professionals and business giants, whilst gaining valuable CPD hours.

Register now

Published: 25 July 2022

Heritage Supreme Max Plus Withdrawal

Product Update

From Monday 25 July, Pure Retirement is withdrawing the Heritage Supreme Max Plus LTV tier prduct from new business.

KFIs deadline: 24 July. Applications deadline: 7 August

Published: 21 July 2022

Heritage Supreme Max Plus Cashback changes

Product Update

From Monday 18 July, Pure Retirement is making changes to the Heritage Supreme Max Plus

  • Reducing the available cashback amount from 5% to 3%
  • Reducing the rate of the cashback product to 7.35% MER. The non-cashback rate will remain unchanged at 6.88% MER

Deadlines:

  • Request KFIs by 23:59 on 17 July
  • Submit new business applications by 23:59 on 31 July

Published: 15 July 2022

Lease length changes

Product Update

From Monday 18 July, Aviva is introducing greater lending flexibility for customers with longer lease lengths by applying the following changes:

  • Removing the 85% Loan To Value (LTV) cap on all flats and maisonettes. This will be replaced with a tiered approach of property value adjustments for all leasehold properties influenced by the remaining lease length and the youngest borrower’s age. This means that customers with longer remaining leases will benefit from higher LTVs.
  • Introducing a minimum lease length of 75 years. Lease lengths with a remaining term of less than 75 years will be declined regardless of the youngest borrower’s age.

These changes will apply to initial borrowing and additional borrowing, as well as for customers applying to port their mortgage.

Published: 15 July 2022

Product changes

Product Update

From Friday 8 July, Just is removing the 7% cashback option on the J6 product. All new quotes from this date will be provided on the new terms.

For any pipeline quotes, Just will need to receive applications before close of business on Friday 22 July. Any applications received after this date will be on the new interest rates.

Published: 7 July 2022

Temporary removal of Super LTV from New Business

Product Update

Effectively from 7 July, OneFamily is temporarily removing the Super LTV from New Business. The last date that OneFamily will accept Super LTV applications will be 6 July 2022.

Published: 6 July 2022

Capital Choice Ultra Lite withdrawal

Product Update

On Friday 1 July, More2life have withdrawn the Capital Choice Ultra Lite Lump Sum product with immediate effect, the Ultra Lite Drawdown plan will remain available for new business.

Published: 1 July 2022

Why care about care? SOLLA Webinar

Market Events

When:

20 July, 10am

Jane Finnerty from SOLLA will discuss how and when equity release advisers should be having conversations around care matters and the opportunities that brings. Jane will be covering vulnerable customer considerations and how to ensure you get better customer outcomes. You will also discover more about the resources, support and training SOLLA offer in this area.

Register now

Published: 1 July 2022

The quarterly Pure Report is live

General Update

Pure Retirement published its quarterly report with the latest news and stats from around the equity release industry.

View the report

Published: 1 July 2022

LV= changes to the application process

Product Update

From Monday 4 July, LV= will be making some improvements to simplify the application process and reduce the number of underwriting referrals, enabling a smoother application journey for you and your clients.

In summary LV= will:

  • Add a warning message to allow you to double check you’ve used the correct submission route for your portal application
  • Add a date and time stamp to your illustration summary (on your homepage)
  • Make some changes to the reason for loan options to help reduce application referrals
  • Add a warning message regarding property condition to ensure it has been answered correctly, to minimise application referrals and declines
  • Make the proceed buttons more clear so that you are aware of the status of your clients’ application and what action is required by you

Terms and Conditions

LV= have also updated the terms and conditions for the Lifetime Mortgage Drawdown+ and Lump Sum+ products.

Published: 1 July 2022

A conversation with Hansen Lu, Aviva’s Housing Analysis lead

Market Events

When:

Tuesday 5th July, 10am

Wednesday 6th July, 2pm

Friday 8th July, 10am

Aviva's July webinar will feature Hansen Lu, a former forecaster who brings a wealth of economic and housing market experience to the table. Hansen will talk about the economic drivers of house prices, discussing the impact of factors like inflation and interest rates on house prices, and what that means for equity release prices in the long term.

Register now for your place, with a choice of dates

Register now

Published: 28 June 2022

Pure Retirement Heritage Supreme Max Plus

Product Update

From Monday 20 June, Pure Retirement is launching Heritage Supreme Max Plus, a new high LTV tier product :

  • For a customer aged 70 a max LTV is available of 47.20%
  • A fees package option is available offering 5% cashback
  • Customer age: min 60, max 85 (80 if 5% cashback product)
  • Not available on Freedom 20 or Freedom 40
  • Criteria Restrictions are the same already in place for Heritage Super Max Plus.

Published: 17 June 2022

Pure Retirement LTV withdrawal

Product Update

From Monday 20 June, Pure Retirement is removing the Max and Max Plus LTV tiers from all Heritage ranges (Core range, Freedom 20/Freedom 40).

Published: 16 June 2022

Uncover your clients long-term thinking

Market Events

What does long-term thinking mean to you, and do you believe your clients’ think the same?

In the latest in a series of webinars to help you better understand your clients’ long-term thinking, Canada Life experts investigate the psychology behind the subject and explain how you can unlock your clients’ priorities.

During the session, you’ll hear from:

  • Alice Watson, Head of Marketing, Insurance at Canada Life
  • Dr Simon Moore, chartered psychologist and CEO of Innovation Bubble

Watch here

Published: 16 June 2022

In conversation with the Equity Release Council

Market Events

Join our upcoming live webinar, in collaboration with the Equity Release Council.

Craig Faulkiner, our Head of Distribution, will host the live event: a conversation with the Council around their latest news, including the recently updated standards.

The webinar will end with a live Q&A session, where the speakers will answer to all your questions!

Register now!

Published: 14 June 2022

Barton Law launches today

General Update

Barton Law, a new specialist solicitor, launches today!

Barton Law, founded and managed by Peter Barton, has a dedicated team with over 40 years of experience in the lifetime mortgage industry. Peter and his team have created this new law firm, continuing to specialise in laterlife lending and partnering with Advise Wise, in place of Ashfords Solicitors.

Existing cases with Ashfords will continue to progress seamlessly, handled by the same team at Barton Law.

Barton Law can be instructed in just a click with our solicitor instruction feature on the client case on the Advise Wise Platform. Barton Law info and details can be found on the Advise Wise Legal Hub.

Published: 7 June 2022

How personalising advice can work for your clients

Market Events

When:

Wednesday 8 June, 10am

Monday 13 June, 2pm

Tuesday 14 June, 10am

Neil Uttley, Aviva equity release national sales manager, will be hosting the webinar and looking at cash reserves in particular detail. Reserves offer many ways to personalise a client’s lifetime mortgage, all within the application framework.

Register now

Published: 7 June 2022

The Unplaceables webinar

Market Events

When: Wednesday 8 June, 10-11 am

Join BDM Jane Mullan with guest speakers from Advise Wise and Ashfords, to discuss your hard to place cases.

Register now

Published: 1 June 2022

Emerald LTV change

Product Update

From Wednesday 8 June, Pure Retirement is making some changes to the Emerald cashback product, reducing the maximum LTV.

All KFIs are valid for 21 days from date of creation.

Published: 1 June 2022

Changes to Just for you lifetime mortgage

Product Update

On Wednesday 1 June, Just will be removing all cashback options across J1, J2 & J2.5 products.

Published: 30 May 2022

Pure Sovereign Max Changes

Product Update

Pure is making the following criteria changes to the Sovereign range with effect from Monday 30 May 2022:

  • Increasing the maximum loan size for standard Sovereign range products from £725,000 to £1 million
  • Increasing the minimum loan size for Sovereign Elite range products from £725,001 to £1,000,001
  • Increasing the maximum loan size for Sovereign Elite range products to £2 million (can refer if over £2m) – current criteria is refer between £1m - £2m

The above changes will apply to all initial and further advance lending.

Published: 30 May 2022

Equity release hints and tips to help avoid underwriting issues

Market Events

It’s easy to assume a property is an obvious candidate for equity release lending only to discover a vital aspect has been overlooked.

Join Equity Release Specialist, Malcolm Tyrrell in this new webinar and learn the underwriting issues to be aware of when considering a potential lifetime mortgage.

Register now

Published: 20 May 2022

LV= product changes

Product Update

From 20 May, LV= is making changes to its Lifetime Mortgage Lending Criteria:

  • Will increase its maximum flat roof percentage from 50% to 100%, where a durable material (asphalt, metal sheet, EPDM, GRP etc.) is in place and the roof is in good condition. The maximum percentage where the flat roof is constructed from felt has increased from 30% to 50%. Ex-local authority properties are subject to a 50% maximum flat roof, regardless of the construction material used.
  • Non-residential properties may be permitted where adjacent or in close proximity to the subject property and subject to a satisfactory valuation.

    For properties in close proximity to commercial premises, LV= will consider these subject to surveyor comments. Properties adjacent to or above commercial premises or in close proximity to a large-scale industrial site are not accepted.

    Answer the question on LV= portal asking whether the subject property is within 50m of commercial premises and provide any relevant additional details in the notes section on the decision page. This will then be reviewed before the valuation is instructed.

Published: 16 May 2022

Webinar with The Society of Later Life Advisers (SOLLA)

Market Events

When: 18 May, 10am

Join Pure’s BDM, Ashley Sampson, and Joint Chair of the Society of Later Life Advisers, Jane Finnerty, for a Pure update plus a CPD-accredited SOLLA webinar.

This webinar will cover a short background to the SOLLA later life advice standard, the regulators view, requirements to apply and an online assessment syllabus.

Book your place

Published: 16 May 2022

L&G product changes

Product Update

On Friday 6 May at 9am, L&G is reducing the minimum OPR payment from £500 to £50.

Published: 6 May 2022

Exploring the legal process around equity release with Konexo

Market Events

When: 10 May, 2.30pm, 11 May 3.00pm, 13 May 11am

Join Aviva experts for a 45 minute webinar.

Equity release is becoming an increasingly attractive option for homeowners, but there are elements of the legal process that can be complex. Aviva has teamed up with Konexo, a division of Eversheds Sutherland (International) LLP, to discuss some of these topics and how they can be resolved quickly, with the minimum of disruption to clients.

Gemma Pendlebury and Alex Price from Konexo will be discussing the legal process around equity release with Neil Uttley, National Sales Manager for Aviva Equity Release.

No question is off limits. Whatever you want to know, you’ll be able to ask the experts directly.

Register now!

Published: 5 May 2022

2022 awards for excellence in customer vulnerability

Market Events

The Just Group 2022 Vulnerable Customer Awards showcase business leadership, financial advice, paraplanner and support staff excellence in supporting vulnerable customers.

The entry window is now open and closes on 22 July.

Tell us about what you’ve done so far and what your vulnerability plans are for the future.

Learn more and enter now

Published: 29 April 2022

New plan options on Horizon

Product Update

From Wednesday 27 April, Standard Life is adding two new plan options 780 and 800 to the Horizon Plan.

Published: 27 April 2022

Lending Criteria: Changes & Improvements

Market Events

When: Thursday 5 May, 10am

Join Standard Life Home Finance’s National Account Manager, Sanjay Gadhia for their first ever lending criteria webinar.

You’ll get an in depth look at their lending criteria and hear about the recent improvements they’ve made.

Book your place now

Published: 26 April 2022

LV= lending policy changes

Product Update

With effect from Wednesday 6 April, LV= is making the following changes to its Lifetime Mortgage Lending Criteria:

  • Will look at properties with up to 15 acres by exception.
  • Will be able to consider annexes where family reside in the annexe on a full-time basis.
  • Could accept aso customers with less than 36 month UK residency history
  • Will no longer accept flats/apartments in a building with more than 4 storeys and no lift.

Published: 30 March 2022

L&G Premier product change

Product Update

On Wednesday 30 March at 6pm L&G is reducing the minimum property value for Premier products from £1m to £750,000.

This change will be across Premier Flexible and OPLM variants and Premier Black and Yellow LTV tiers.

Published: 30 March 2022

The Unplaceables webinar

Market Events

Join Pure Retirement BDM Ashley Sampson and Jane Hanlon from Advise Wise, with guest speaker from Ashfords, to discuss your hard to place cases. Get in touch if you have something you’d like to discuss at marketing@pureretirement.co.uk

Register

Published: 25 March 2022

Scottish Widows product updates

Product Update

On Monday 28 March, Scottish Widows is making the following changes to its Lifetime Mortgage product range:

  • New high loan to value (LTV) products for Lump Sum
  • New product for Future Release
  • Changes to max LTV by age and product
  • Rate increase across all products

Published: 22 March 2022

Canada Life product update

Product Update

From Thursday 24 March, Canada Life is simplifying its product range, removing the following product options:

  • Over 55 Buy-to-Let Lifestyle Option
  • Second Home Lifestyle Options

The 55 Buy-to-Let Voluntary Select Option and Second Home Voluntary Select Option will continue to be available to customers.

For any pipeline cases

  • Generate an illustration before 8am Thursday 24 March.
  • Submit the application before 5pm on Thursday 7 April.

Published: 22 March 2022

Heritage criteria changes

Product Update

From Monday 21 March, Pure Retirement is expanding the criteria on the Heritage range, accepting:

  • 100% flat roof properties (doesn’t apply to the Heritage Super Max Plus plans)
  • properties with shared septic tanks

Pure Retirement is also applying an additional restriction to the Heritage Super Max Plus plans, not accepting properties in significant risk of flooding areas with active flood mitigation management in place and insurance in place to cover the flood risk.

Published: 21 March 2022

Withdrawal of more2life Capital Cashback Plans

Product Update

From Thursday 17 March, more2life is withdrawing for all new business Capital Choice Cashback plans:

  • Capital Choice With Cashback
  • Capital Choice Plus With Cashback

Applications on the current rates can be submitted up until Thursday 31 March 23:59.

Published: 18 March 2022

Your property criteria questions answered!

Market Events

When:

Wednesday 23 March, 2pm - Register

Thursday 24 March, 10am - Register

Join Aviva in a question-and-answer session, where you’ll be able to get answers on lending criteria from two of Aviva’s experts, Neil Uttley National Sales Manager, and Andrew Turner, Avva in-house Senior Portfolio Surveyor.

Here’s your chance to ask the experts directly, from what types of properties Aviva will consider for equity release, to how they handle the process and how these products could be suitable for your clients.

No question is off limits! If you have a question you’d like answered, let Aviva know before the session to make sure we can answer it. Submit a quesion in advance to retirement.marketing@aviva.com

There will also be chance during the session to use the chat box to submit your questions.

Published: 17 March 2022

more2life Flexi Choice criteria changes

Product Update

From Monday 14 March, more2life is making some changes to the Flexi Choice criteria to now include:

  • Up to 100% flat roof
  • Up to 3 satisfied or unsatisfied CCJ’s

And more relaxed criteria regarding:

  • Proximity to commercial
  • Septic tanks
  • Unadopted roads
  • Ex-local authority/council houses & bungalows
  • Laing Easyform & Cross wall construction

Plus, the following builder’s warranties are no longer accepted:

  • Zurich Municipal New Build Guarantee
  • Principal
  • A Foundation 15 Certificate

Published: 14 March 2022

General Update
Rate table illustration

Check all the rate changes and deadlines

Through our handy summary table

View the table

Published: 10th March 2022

Pure Retirement Classic Criteria changes

Product Update

From Tuesday 15 March, Pure Retirement is making some changes to the Classic criteria to now include:

  • Up to 100% flat roof
  • Up to 3 satisfied or unsatisfied CCJ’s

And more relaxed criteria regarding:

  • Max number of storeys for flats
  • Unadopted roads
  • Laing Easyform construction
  • Cross wall construction
  • Septic tanks

Published: 14 March 2022

Ask our experts about meaningful later-life benefits

Market Events

When: 22 March, 10-11 am

How you demonstrate your support to clients from the early stage is crucial in the process of building a long-lasting relationship. That’s why LV= include two non-contractual services to its equity release customers at no extra charge – LV= Doctor Services and Care Navigator. Representatives from both of these services will be joining the webinar. In the event, LV= will take a more detailed look at the support available through the lens of both equity release customers and you as their adviser.

This webinar is eligible for one hour unstructured CPD.

Register

Published: 11 March 2022

Heritage product update

Product Update

From Wednesday 2 March, Pure Retirement is making some changes to the Heritage range:

  • Introducing a new LTV tier product – Heritage Super Max Plus
  • Introducing new fees package (cashback) product options for Heritage Max Plus and Super Max tiers
  • Making some LTV adjustments at selected ages for Heritage Max, Max plus, Super Max
  • Withdrawing the Heritage Plus LTV tier
  • Increasing interest rates on all Heritage products

Published: 1 March 2022

The Unplaceables webinar

Market Events

When: 9 March 10am

Join BDM for the South West, Jane Mullan, with guest speakers from Advise Wise to discuss your hard to place cases. Please get in touch if you have something you would like to discuss.

Sign up

Published: 23 February 2022

OneFamily Portal maintenance work

General Update

OneFamily will be carrying out some essential maintenance work on its Lifetime Mortgage Adviser Portal on Monday 21 February, from 5.30pm until 10pm, during these times there will be no access available.

Published: 18 February 2022

New equity release business development events

Market Events

The later life lending market continues to be buoyant and these new events are designed to help you grow your business:

  • 17 February – Webinar with MoneyAlive and SOLLA: Lending support to you and your clients.
  • 2, 3, 9 and 10 March – Case study workshop (four groups): Let’s get personal.

Learn more

Published: 14 February 2022

The pitfalls of spray foam insulation

Market Events

When: Thursday 10 February, 10am

Join our upcoming live webinar, in collaboration with Morgan Sloane Chartered Surveyors, the Residential Property Surveyors Association and an expert adviser.

Craig Faulkiner, our Head of Distribution will host the live event that will focus on the pitfalls of spray foam. The webinar will end with a live Q&A session, where the speakers will answer to all your questions!

Register for the webinar

Published: 3 February 2022

Heritage Renovate withdrawal

Product Update

With effect from Tuesday 1 February 2022 the Heritage Renovate range will be withdrawn from new business.

Any pipeline cases currently at application stage will continue to be honoured.

Submission Dates:

  • You can request Renovate KFIs until 23:59 Monday 31 January 2022
  • Submit Renovate applications by 23:59 Monday 14 February 2022

Published: 27 January 2022

Financial Reporter Later Life Lending Roadshow

Market Events

When: 23 February in Brighton. Register

When: 24 February in Wasall. Register

When: 2 March in Derby. Register

When: 3 March in York. Register

Published: 26 January 2022

My Care Consultant - Specialist support services for customers in need of care

Market Events

When: 9 February, 10am

In this session, founder of MCC, Jacqueline Berry, will discuss their specialist care navigation service and how it can be used to help customers in need of care.

Register

Published: 26 January 2022

Aviva variable ERC change

Product Update

From 24 January, Aviva is launching a new Variable Gilt Index Early Repayment Charge (ERC), which replaces the current Individual Gilt ERC for all new business customers who choose this option, rather than a Fixed Percentage ERC.

Aviva has updated its gilt ERC so that all new borrowing uses the FTSE 15 year Actuarial Gilt Index as a single reference point.

For further information and FAQs on Variable Gilt Index ERC please visit Aviva webpage.

Published: 24 January 2022

Heritage Criteria change

Product Update

From 21 January Pure Retirement has implemented the following changes to the Heritage range:

  • Properties with private drainage where the septic tank is shared by no more than 2 properties, and a formal agreement is in place for maintenance and access can be considered.
    • All cases will be referred to funder for individual consideration.
    • The tank can be outside of the curtilage of the subject property, but formal agreements need to be in place for maintenance and access.
  • Charging orders can now be considered in line with the CCJ criteria, up to a value of £20,000.
    • Orders between £10,000 - £20,000 will require funder approval.
    • The charge must be repaid on completion.

Published: 21 January 2022

Criteria changes

Product Update

From Monday 17 January, Just is making some changes to its lending criteria:

  • Limiting the LTV on flats and maisonettes to 85% of the product LTV
  • Blocks of flats with 100% flat roof standard construction are acceptable
  • Properties with private drainage where the septic tank is shared by no more than 2 properties and a formal agreements is in place for maintenance and access can be referred for individual consideration
  • Northern Ireland listed properties can be referred for individual consideration for B1 & B2 categories. Categories A & B+ cannot be considered.
  • Charging orders can be considered in line with our CCJ criteria
  • Properties with restricted ownership covenants cannot be considered

For pipeline quotes impacted by the above, applications will be accepted up to Monday 31 January.

All applications are subject to approval and all properties are subject to a satisfactory valuation report.

The updated version of Just Lending Criteria Guide is available on justadviser.com.

Published: 17 January 2022

CII Equity Release workshops and Foundation workshops

Market Events

L&G has announced the dates for this year’s ER1 and CII accredited Foundation Courses.

They’re free to attend and they’re all virtual unless otherwise stated.

Find out the dates and all details

CII Equity Release Exam workshops

Setting the Foundations workshops

Published: 11 January 2022

m2l launched Maxi Choice Extra

Product Update

From Friday 7 January, more2life will be offering a new Maxi Choice plan – Maximum Choice Extra.

This plan will offer both Lump Sum and Drawdown options and will offer the standard Maximum Choice Features. It will have the same criteria as the Maximum Choice Super range but flas will not be accepted. Rates from 3.93%MER.

Published: 7 January 2022

Brand health check: Engaging the over 50s market

Market Events

When: 19 January, 10am

Join Pure Retirement Head of Marketing, Rachel Pease, as she discusses her recent brand research report. Discover how you can best position your brand and make an impact with the over 50s market.

Sign up here

Published: 5 January 2022

The Unplaceables webinar

Market Events

When: 12 January 10am

Join Pure’s BDM Anna Thompson, with guest speakers from Advise Wise and Ashfords, to discuss your hard to place cases. If you have something you would like to discuss, contact marketing@pureretirement.co.uk

Sign up here

Published: 5 January 2022

Rate table illustration

Rate changes and deadlines table

View the table

Archive

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