Equity Release. Don t miss your opportunities in this growing business area

Transcription

1 Equity Release Don t miss your opportunities in this growing business area

2 LV= Equity Release Award winning Financial Adviser 5 Star Service Awards 2011 Mortgage Lenders and Packagers. Your Mortgage Awards Best Lifetime Mortgage Lender for the last three years. Mortgage Solutions Equity Release Awards Best Lifetime Mortgage Provider for the last two years. Investment Life & Pensions Moneyfacts Awards 2011 Best Equity Release Provider. Quality products and service, with features and benefits independently assessed as among the best in the market. Transparency Clear, defined early repayment charges, ending after ten years. Fairer to your customer and easy to understand. No hidden fees for additional borrowing. Fees and charges clearly explained and easy to understand. Value Age banded interest rates available from age 60 to age 95, offering competitive rates tailored to your customer s age. Two free revaluation facility on the Flexible Lifetime Mortgage, enabling your customer to see if they can increase their maximum loan. Two free further advances available on the Lifetime Mortgage lump sum, allowing your customer to see if they can borrow more if their circumstances change. Fee-free withdrawals on the Flexible Lifetime Mortgage. Good value, competitive products from a company which has been looking after customers since Fairness Maximum loan facility on the Flexible Lifetime Mortgage guaranteed to be available for 15 years from completion, regardless of what happens to interest rates or property prices. No negative equity guarantee, ensuring your customer/their beneficiaries will never be left owing more than the property value upon death or entry into permanent residential care. Fair product terms and guarantees that you would expect from a member of The Equity Release Council (formerly SHIP) and the UK s largest friendly society. These are lifetime mortgages, to understand the features and risks ask for a personalised illustration. For financial adviser use only. Commitment In house funding, taking responsibility for both our lifetime mortgage products. Via acquisitions of Stalwart Assurance and GE Life, a consistent presence in the equity release market since LV= Equity Release Limited are part of Liverpool Victoria Friendly Society Limited who have over five million members and customers. Demonstrating commitment to the market through strength, stability and heritage. Contact Equity Release Quotes Team Telephone: (Option 1) Fax: equityrelease.quotes@lv.com Equity Release Sales Support Team Telephone: (Option 2) Fax: equityrelease.sales@lv.com Equity Release New Business Team Telephone: (Option 3) Fax: newbusiness.equityrelease@lv.com For textphone dial first. Lines are open Monday to Friday 8.30am to 5.30pm. We may record and/or monitor your calls for training and audit purposes. Best Equity Release/Lifetime Lender WINNER LV= is proud to be a member of Equity Release Council Mortgage Lenders and Packagers Best Equity Release Provider LV.com/adviser /12 LV Equity Release Limited, Keynes House, Tilehouse Street, Hitchin, Herts, SG5 2DX. LV= is a registered trade mark of Liverpool Victoria Friendly Society Limited and a trading style of the Liverpool Victoria group of Companies. LV Equity Release Limited is registered in England (No ) and is authorised and regulated by the Financial Services Authority (register number ). Registered address: County Gates, Bournemouth, BH1 2NF. Tel:

3 Welcome Equity Release 3 Hello, and welcome to this update on the brand new equity release proposition from SimplyBiz Mortgages. Equity release has become one of the fastest growing business areas over recent years for a number of reasons. Unfortunately, there has been an increased demand for these products because pension pots are increasingly not stretching as far as many hoped. However, as people generally begin to live longer, equity release products can also be a way for clients to bring some luxury to their golden years or make sure they re around to see their children or grandchildren enjoy their inheritance. We ve heard a lot about how the baby boomers have changed the shape of financial services, and the equity release market is the most recent to reflect this trend. As you will see from the articles included in this brochure, equity release products are also evolving to keep pace with the growing demand. The flexibility of new products coming into the market seems to be the key, with impaired plans, protected equity guarantees and drawdown options now available. Equity release has had a fairly bad reputation in the past, but the range of options now available mean that it is a valid choice for more and more clients. In this brochure, we have brought together information from the biggest and best providers around in order to ensure that you re making the most of this potential opportunity to extend your business offering. More information on our equity release proposition will also be available through the new Equity Release area of the SimplyBiz Mortgages website, but please don t hesitate to get in touch at Mortgages@SimplyBiz.co.uk if you have any questions or comments. Kind regards, Martin Reynolds Chief Executive SimplyBiz Mortgages Whilst we have worked to ensure that there is a solution for all adviser business across the United Kingdom, please refer to lenders and solicitors websites to confirm whether they will lend or conduct business in Scotland and Northern Ireland.

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5 Equity Release 5 History of Equity Release Time to talk about equity release Equity release is often not considered when customers are planning their retirement. But with more people than ever before reaching state retirement age this year, more of them owning their own home and improvements in lifetime mortgages, equity release could be the right option for customers planning for their retirement. It s got much better Customers have previously been worried about leaving their loved ones with no inheritance and even debt to pay off, but with improvements across the industry customers are now better protected than ever. That s a huge number of people potentially needing financial help with their retirement. Pension funds will play a big part in that, but the at-retirement market offers other options, like equity release. Clients can t afford to overlook cash in their home With falling investment returns and low interest rates affecting savings, retirees are looking for other ways to fund their retirement. Research for Aviva shows that retired people own property worth roughly eight times as much as the average pension fund. That makes unlocking cash from their home look very attractive. Most providers are members of the Safe Home Income Plans (SHIP) and abide by their code of conduct and all members of SHIP offer a no negative equity guarantee on their lifetime mortgages. A lifetime mortgage will reduce the amount of inheritance customers can leave behind and their tax and welfare benefits may be affected. Aviva offer customers the option to add an inheritance guarantee to their lifetime mortgage. This safeguards a percentage of the sale price of their home, giving customers the reassurance they will be able to leave their loved ones with something when they re gone. An attractive option The typical pension fund used to purchase an annuity in 2011 was less than 30,000, which is unlikely to support people through retirement. So as people begin to live longer, customers need their pension fund to stretch further. And if you consider that the average house value for over 55s in November 2011 was 238,284, you can see why equity release is an attractive option. Equity release could be big business Over 800,000 people are due to turn 65 this year. Tackling the inheritance issue Clients have been reluctant to consider equity release because they want to leave their home to their loved ones. Taking cash from their property will reduce the amount your clients can leave behind, but they can safeguard some of the value with an inheritance guarantee. A client with a property worth around 300,000 could ring-fence 50% or more of the value of that property and still walk away with a tidy sum of money. An essential part of retirement planning Clients are warming to the idea of equity release, so it s definitely worth considering it for your retired clients. Just keep in mind that it may affect their tax and welfare benefits. Aviva has a range of lifetime mortgages, with an inheritance guarantee option, that could be just right for your clients. To find out more, speak to your Aviva consultant or visit aviva.co.uk/adviser/atretirement.

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7 Equity Release 7 Moving with the times: Today s equity release market The image of equity release has changed considerably over recent years and it is now recognised as a viable and very useful financial planning tool for clients approaching, or already in, retirement. This is clear just by looking at the growing number of IFAs and specialists now advising in this area. Innovation equals flexibility One of the many positives in this sector is the recent innovation and improvements to products, making them more flexible than ever and able to fit individual client s circumstances. Drawdown lifetime mortgages allow the customer to borrow only what they need at the outset, with the provision of a reserve facility for the client to draw from as and when they wish. Taking the money in stages not only reduces the interest owed but also gives clients the piece of mind that more money is available should it be needed. Impaired plans take the client s health and lifestyle into consideration, offering the potential of a higher lump sum or reserve facility. This can be very useful for clients who have a need for larger amounts, and, with even fairly minor conditions included in the list of qualifying factors, this type of plan could be open to large numbers of clients. A protected equity guarantee offered by some lenders can safeguard a percentage of the property, promising that the chosen percentage will eventually be left in the property irrespective of how long a client lives and any fluctuations in property prices. This offers real peace of mind for the client who wants to know that something will be left for their beneficiaries. There are also lifetime mortgages that enable the client to pay some of or all of the interest rather than allowing it to roll-up. This is a very useful option for clients who have sufficient disposable income to afford the interest payments. Or perhaps the client s family may wish to make the payments. This type of plan can greatly reduce the eventual debt against the property. Another positive for the market place are the current interest rates, some being offered are as low as under 6% fixed for life which in some cases may be 30 or even 40 years! So, why are people taking out equity release plans? One of the obvious reasons is that people are living longer with greater expectations from life post retirement, but many are reaching this stage with inadequate pension provision. This is going to be more and more common in the future, leading to increasing numbers of people looking to the wealth held in their property as a way of easing their situation. It is already the case that many IFAs encourage their clients to view their home as part of their pension pot and will always take the home into consideration when reviewing the needs of retiring or retired clients. As well as helping to make retirement more comfortable, other common uses of plans include debt consolidation, repaying outstanding mortgages, helping family and home improvements. The list of uses is many and varied and it is of course up to the adviser to ensure that an equity release plan is the right thing to recommend. With the recent advent of SHIP s replacement The Equity Release Council which offers the same safeguards but invites membership from advisers, solicitors and surveyors along with lenders, it could be argued that the industry has never been in better shape.

8 At a glance guide to Partnership s Enhanced Lifetime Mortgage The Partnership Enhanced Lifetime Mortgage can help you to help your clients release more cash. It has been designed specifically for people living with health problems. Utilising our unique underwriting skills, each LTV is based on the individual s lifestyle and health conditions. Partnership is expert in the world of medical underwriting and from our launch back in 1995 we have rapidly grown to become one of the UK s largest providers of enhanced/impaired annuities. Partnership is in a great position of having its own in house team of underwriters. Over the years we have built a wealth of underwriting experience. This enables us to provide bespoke terms for each individual client. We have used this experience and knowledge to create an Enhanced Lifetime Mortgage to provide a better deal for your clients. Free Entry Partnership charges no fees for its Enhanced Lifetime Mortgage there are no arrangement, valuation or completion fees. Your client will not have to give up any of the loan to admin fees although they would still be liable for their own legal fees. Enhanced Rates Our underwriting expertise allows us to offer a better LTV than standard providers based on a short list of simple medical questions. Example Mr Jones is 65 and lives in a house worth 200,000. Based on his age alone, the best standard lender would currently offer a maximum loan to him of 58,000*. However, Mr Jones is a smoker so Partnership would be able to offer him a total of 66,000, over 8,000 more*. Sources: *Best standard lender figures from the Exchange; enhanced rates from Partnership; both as at 23 Jan For illustration purposes only. Inheritance Protection Partnership offers an Inheritance Protection feature, enabling your clients to protect part of their property s value to leave to their heirs. Example Mr and Mrs Johnson need to borrow 60,000 and ask Partnership for a quote. We underwrite the couple s application and to their delight, we are actually able to offer a total of up to 75,000. Rather than take the additional 15,000, however, and run the risk of the house value being completely depleted when it is finally sold, Mr and Mrs Johnson decide they would rather leave something to their children. 15,000 equates to 20% of the total 75,000 they could have borrowed. We therefore write them a cheque for 60,000 and then contractually ring fence 20% of the property s total value, preserving it in full for their estate. This means that when their property is finally sold, at least 20% of the proceeds of the house sale. regardless of the price at which it sells, can be passed on. Quote in minutes Our online KFI generator gives you an underwritten quote quickly and easily. Equity Release Council Membership Partnership is a member of Equity Release Council and the Enhanced Lifetime Mortgage meets the standards of their guarantee including: security of tenure for life, the right to move to another suitable property without an ERC being applied, and a no negative equity guarantee.

9 Equity Release 9 Facing up to debt in retirement Survey finds one quarter still hold unsecured loans at age Nearly a quarter of the retired now hold unsecured debt in the form of credit cards, overdrafts or personal loans: the baby boomers who grew up at times of cultural change are entering retirement with increasing levels of debt and less retirement savings than previous generations. The survey found that 24% of the retired hold unsecured debt, whereas 4% of the group hold secured debt. The inability of mortgage endowment policies, taken out in the 1980s and 1990s, to pay out the amounts originally estimated may be one of the factors contributing to this situation. Most of these endowment policies were taken out around years ago, meaning many are coming to maturity now. At a time when those borrowers are entering retirement, they are also facing a lack of funds to repay their mortgages. who may have gathered significant housing wealth, regardless of whether their mortgages have been fully repaid or not. Lifetime mortgages could help these people release some of that equity and either consolidate those debts or use the capital to generate income and maintain a standard of living - without the policyholder having to move home. There are downsides. Taking out a lifetime mortgage early means the client uses up their option for borrowing later on. At the same time, as a client gets older, the loan to value ratio available increases, so younger people will get less money for the same value of house as someone older. There may also be limited opportunity for clients to trade down later on if their mobility becomes affected, for example. These factors all need to be taken into account particularly by the recently retired. The problem with all this is that people s income generally falls as they enter retirement. If debts were repaid already then this would not be such an issue but where debts remain, paying them off becomes increasingly difficult. Source: Bank of England (2011) NMG Consulting Survey: The Financial Position of British Households Relieving some of the burden When income is low or likely to fall, the options for paying back debt become limited. However, for those who have significant amounts of equity in their house, a lifetime mortgages might be one option. Property is often a person s largest asset, particularly for older age groups Considering health and lifestyle However, if, once these factors have been considered, equity release is a viable option, it is important to maximise the amount they can then access. For many, lifestyle and health conditions which might shorten life expectancy - eg: smoking, diabetes, heart conditions, etc - can be key to this equation. For those clients, enhanced products such as the Partnership Enhanced Lifetime Mortgage, takes these factors into account and offers a lump sum which reflects personal circumstances - an amount which is usually higher than any standard lenders would offer. This gives them the choice to take more than they would otherwise receive from the standard lender - or, using our Inheritance Protection option, ring fence a percentage of the equity available and safeguard it for their beneficiaries.

10 Earn more by coming to the UK s No.1 equity release specialist Earn a 50% share of what we receive from the product provider for EACH equity release completion - an average of 750! Benefit from EXCLUSIVE offers from top providers such as Aviva and LV= Visit us today to register and start referring: This is intended for intermediaries only and has not been approved for customer use. or call us on:

11 Equity Release 11 When Referrals Make Sense Over recent years, the financial services industry has changed dramatically, with some of the biggest changes set to come by the end of Many mortgage clubs and networks have been working with their members to help them diversify their businesses models, with the aim of helping them increase their future profitability. One way they have found to help achieve this, is to increase the opportunities to refer business to external suppliers. This allows you to concentrate on the areas of specialism within your firm, whilst offering you the opportunity to benefit from the best deals in the market place, negotiated by specialist firms in different sectors. Best advice for your clients and treating customers fairly are terms widely used now in the industry. This is where referring your client can make a lot of sense. In most industries referring clients to specialists does work. If you broke your leg, you would not appreciate it being set by a heart surgeon rather than an orthopaedic surgeon; although they are both doctors, their specialisation lies in different areas of their chosen profession. These days, financial services is no different; being a general practitioner and keeping up with changes in a very diverse market place has become a challenge. Recommending a good accountant or solicitor to your clients may seem easier. Generally, you would be happy to help in recommending a fellow professional from a different sector to advise them properly. This practise should be used by all of us when discussing the options available with our clients, especially when you do not have the qualifications or experience to attempt to help them yourself. Where you do not have the relevant FSA permissions, qualifications or experience, a referral proposition is there to help you. Do not feel inhibited by contacting the specialist for help. By referring your client to a specialist you are proactively enhancing your relationship, enabling you to keep them as a client as you have facilitated a solution for them. This should be seen as a positive and not a negative. A qualified specialist will be able to help you and your client understand all the options available to them. The referral partner will want to work in partnership with you, as they want you to refer more clients to them. Consider a referral partner as an extra virtual adviser in your company which can be called upon when required. A referral proposition will work where you do not have the permissions to transact a certain type of business, providing the proposition available is strong enough and you feel comfortable referring your clients. Importantly, you keep control of the client, which, to you, is imperative. Having a strict no cross sell guarantee, regular updates and feedback is a necessity. Dealing with a specialist unit normally means that your clients will benefit from special products that would not normally be available to one man band firms. You will also enjoy a referral fee from, usually enhanced, commission rates. The referral partner is there to help both you and your clients. So the long and short of it is, why lose a client because you want to keep control? Your

12 Equity release solicitors of the highest calibre For introducers and clients alike it pays to have Goldsmith Williams as your Equity Release specialist legal adviser. Leading legal Equity Release provider with nationwide coverage Specialist solicitors with excellent working knowledge Founding member of Equity Release Solicitors Alliance (ERSA) Chaps payment of Broker fees paid on day of completion 24/7 access to case progression via GWLive Click here to benefit from our experienced service REMORTGAGE CONVEYANCING PERSONAL INJURY WILLS & PROBATE EQUITY RELEASE BUY-TO-LET Goldsmith Williams Solicitors / Mersey Chambers / 5 Old Churchyard / Liverpool / L2 8GW DX address Liverpool. Goldsmith Williams is authorised and regulated bythe Solicitors Regulation Authority under number Goldsmith Williams Solicitors. Reasons to use Equilaw Competitive fi xed fees on a no completion, no fee basis. Fully case-managed system means that Equilaw offers market leading turnaround times. Service standard of hour turnaround time on all paperwork. Free online case tacking facility means that you can view the milestones for your cases 24/7. Specifi c updates provided in your preferred manner. We will provide s, faxes or telephone updates if required. All of your cases will be dealt with by the same team within Equilaw on each occasion to ensure familiarity and knowledge - we are NOT a factory operation. Using Equilaw means that you do not have to chase a number of solicitors for updates. Equilaw Ltd Brunswick House, Gloucester Business Park, Gloucester GL3 4AA t: e: equityrelease@equilaw.uk.com Any advice fee you charge to the client will be paid on the day of completion without fail. This means that your time is not wasted on debt collection. Clients will always be seen face-to-face when signing the papers. We have a national database of solicitors who act as our agent for no more that 75 approx (ex VAT) or less to witness signatures and take ID on our behalf. However, all guidance (and the signing of the SHIP Certifi cate) in relation to the scheme rests with Equilaw. We have very good relationships with the lenders and their solicitors which means that we can assist on process to ensure that cases are dealt with in the most straightforward and effi cient manner. If required, we can provide training for advisers on our role within the process. We are also happy to discuss potential cases, where there is doubt as to whether it is possible to proceed.

13 Equity Release 13 Why use a specialist solicitor? When working on an equity release case, I m sure it s very important to you that your client receives the same level of professional expertise from the legal team involved as they receive from you. Choosing a specialist equity release solicitor has many benefits, including: Typically lower fees than non-specialist solicitor as a specialist will have a bespoke case management system in place. This means that the specialist does not have to start from scratch when instructed to deal with any of the equity release products available. Online case-tracking facilities which can be accessed by you and your clients. Empathetic relationship with clients and advisers, unlike unfamiliar solicitors who can often be hostile to the concept of equity release. Vastly quicker turnaround times to complete cases than nonspecialist solicitors Trouble-shooting service. Specialist solicitors know what causes cases to fall over. We can take steps to help before such matters become a real issue. Clients will receive written reports in clear English and not legal jargon. They can refer back to these reports again and again. Specialist solicitors have existing relationships with the providers solicitors to enable cases to proceed smoothly. Specialists know what is expected, so they don t omit crucial items. Specialist solicitors thrive on building up relationships with financial advisers and will work to agreed service levels. Specialist solicitors will train financial adviser teams on the legal process so that financial advisers know what to expect in the field. Specialist solicitors will disburse the fee that the adviser is charging the client on the day of completion, so the financial adviser doesn t have to worry about collecting this from the client or pursuing non-familiar solicitors who often forget that

14 14 Equity release Innovation: Where next? An insight into the developments of equity release, from the financial experts at Stonehaven Innovation in the equity release market is leading it forward Growth in the equity release market is widely anticipated for Giving the UK s aging population and sizable pension savings gap, at the same time a growing number of people are taking mortgage debt into their retirement and it has become increasing evident that equity release schemes can offer sensible financial solutions for many. progress in restoring the sectors reputation. In June 2012 came the launch of the Equity Release Council (ERC, also referred to within the industry as the Council ), which has been seen as a very positive step forward. The ERC will represent the entire industry with its membership drawn from providers, financial advisors and solicitors. This will provide a more cohesive approach for lobbying for the sector with government, as well as providing greater scope to educate and inform both consumers and intermediaries. However, traditionally equity release has been seen by many as a product of last resort aimed at an elderly audience who are debt averse and struggling to make ends meet. The equity release market is now coming together to promote the potential benefits offered by equity release schemes, with the aim of educating and informing a new generation of advisers and consumers alike. In an environment of falling annuity rates, reduced pension pots and tightening lender attitudes to borrowing in retirement, equity release can provide an ideal solution. Many IFAs, whilst trying to assist their clients with retirement planning, still ignore what is often the client s biggest asset: their property. For countless people unlocking some of the value in their property can provide a safe and sensible financial solution. Growth in the sector has been hampered by the mistakes of the past, in the pre-regulated era of the 1980s and 1990s. Bad press has lead to consumer and intermediary prejudice. The industry as a whole has moved on considerably over the past ten years and, in particular, the last few years have witnessed new innovations in equity release products, but there still remains even now an air of stigma. The truth is, many people simply do not understand how equity release works. People think they may lose their homes or their family will be left with debt; both of which are just not true. So now is the time for revolutionising the market SHIP (Safe Home Income Plans, the original industry body) made good The equity release market is set to flourish The key for the equity release market continuing its growth: the industry needs to continue to innovate. The range of products available to the consumer has been transformed in the last ten years. Drawdown has proved very popular and has allowed many homeowners to access cash when they need it. Enhanced products have also been introduced, giving many people with health problems a better deal than they otherwise would have got. We have also seen the emergence of products which allow borrowers to service the interest on the loan, overcoming the traditional objections about roll up of interest and allowing far greater scope for borrowers to continue to manage their debts into retirement.

15 Equity Release 15 We are seeing a shift towards more mainstream-type mortgage products which offer greater flexibility in terms of servicing and repaying the debt, whilst not losing sight of the value of the safeguards associated with traditional equity release products. Educating mainstream mortgage brokers and IFAs Equity release can play a part in financial planning to assist with the challenges presented by today s market. The audience for equity release is changing. There is a new, younger generation coming through who are much less debt averse than the older generation, they are used to managing debt and are under pressure to sort out their finances as they come up to retirement. They also recognise that they will have to use their property to release cash to maintain their standard of living in retirement and are far less concerned about inheritance than previous generations. Thousand of endowment policies are maturing in the coming years, and many people will have shortfalls. There is no guarantee that lenders will simply roll over the interest-only mortgage debt onto a new loan, especially if borrowers are heading into retirement and relying on reduced income. These borrowers are often looking for products that allow them to continue to service the interest and equity release products, with the guaranteed security of tenure and the option to flip over to a roll-up mortgage should their circumstances change, are particularly attractive. difficulties on affordability and restricted mortgage terms from mainstream lenders. Equity release can also allow the family to use the property as an asset to the best advantage. For example, intergenerational gifting can provide first time buyers with a deposit. The latest equity release products can even offer flexibility in terms of managing and servicing the debt. The sector must continue to deliver The current and future financial environments present challenges for which equity release can provide the ideal solution. As the sector continues to innovate and offer products that are more flexible and more closely aligned to mainstream mortgage products, increasing numbers of mainstream mortgage brokers and IFAs will come to see equity release as an essential part of the financial planning process. In addition to the efforts of the ERC, equity release brokers will have a role to play in helping to educate their mainstream colleagues and by providing access to these products for their non-qualified contemporaries. Equity release may involve a lifetime mortgage or a home reversion plan. To understand the features and risks, ask for a personalised illustration. Equity release products should be regarded simply as a mortgage. They can be used as a purchase product for older borrowers, who often encounter

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17 Equity Release 17 Introducing Hodge Lifetime Background and History: Hodge Lifetime is the trading name of Hodge Life Assurance Company Limited and Julian Hodge Bank Limited. Our annuity products are provided by Hodge Life, and our equity release products are provided by Julian Hodge Bank. We introduced the first equity release product in 1965 and have continued to focus our strategy around straightforward, competitive retirement products distributed solely via financial advisers ever since. We pride ourselves on offering a personal customer service and have a history of winning awards recognising this, including the 5 star FTAdviser.com online service award to 10% of the initial loan amount per annum, without attracting any early repayment charge. FRO Calculator: Downsizing Protection: Should your customer wish to redeem their loan at the same time as permanently selling up then, after 5 years there will be no early repayment charge (if within 5 years, a sliding scale charge will apply( 5% in year1 to 1% in year 5) For further information on our products please do contact us, details below. Our products: As well as pension annuities, we also offer a range of equity release products including Home Reversion Plans and Lifetime Mortgage Plans. At Hodge Lifetime we understand customers circumstances can change and have built in certain features to our Lump Sum Lifetime Mortgage to reflect this: Contact Us: Customer Services Freephone: E: info@hodgelifetime.com James Young, Business Development Manager T: E: james.young@hodgelifetime. Flexible Repayment Option From the first anniversary of the plan your customer can repay up Hodge Lifetime, 29 Windsor Place, Cardiff CF10 3BZ

18 Unlocking Trapped Capital If you re interested in ways to open up a dialogue with your clients about equity release, then our Unlocking Trapped Capital flyer is worth a look. Available through the Simply Marketing and First for Marketing areas of the SimplyBiz and Compliance First sites, this brochure touches upon many of the reasons why it might be worthwhile for a client to speak to you about equity release options. For more information, please see the Simply Marketing and First for Marketing pages in the Tools and Contacts areas of the SimplyBiz ( co.uk) and Complaince First ( sites. DISCLAIMER: The issue of this publication should only be made where there is a suitability qualified individual within the firm to carry out this activity.

19 SimplyBiz Mortgages Limited The John Smiths Stadium Stadium Way Huddersfield, HD1 6PG T: F: Registered in England No Registered Office: As above