Newcastle Building Society Equity Release Service is asking advisers who do not have a specialist knowledge of equity release products to introduce it to suitable clients.
The new service from Newcastle BS specialises in lifetime mortgages and home reversion plans provided by Safe Home Income Plans (SHIP) members.
Newcastle says it is looking to expand its relationships with introducers that do not want the compliance and regulatory costs of operating a full equity release advice service, but who still want to earn introducer fees from clients seeking to use equity in their homes for retirement.
Newcastle says it puts customer safety at the forefront of its service as it only chooses plans from SHIP members and all advisers are holders of the Chartered Insurance Institute’s Certificate in Equity Release.
Bob Mottershead, retail sales executive at Newcastle BS, comments: “We are pleased to be able to open up our service to clients beyond our own customer base and to be able to build relationships within the intermediary sector.
“Whilst equity release may not always be the best option, our qualified advisers can provide clients with expert guidance and, where appropriate, recommend a product that is suitable for the client's own particular circumstances.”
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