"Partnering with Advise Wise to roll out the Principal product takes our brand and products to the wider broker community and their customers."
- Chris Flowers, intermediary sales director at Royal London Equity Release
Royal London Equity Release is rolling out its Principal product to all advisers through the Advise Wise platform.
Members of Advise Wise can now request instant Key Facts Illustrations (KFIs) for all products in the Royal London Equity Release product range with a single click.
The Principal product features 10-year early repayment charges and flexible, in-house underwriting. Partial repayments can be made with the option to pay up to 10% of the total cash advance within each 12-month period.
The product is available to homeowners from age 55 up to the day before their 90th birthday and the minimum property value to be eligible for these products is £125,000, with a maximum value of £2 million.
Chris Flowers, intermediary sales director at Royal London Equity Release, said: “Partnering with Advise Wise to roll out the Principal product takes our brand and products to the wider broker community and their customers.
“It is more important than ever that advisers have access to the right products suitable for individual needs and lifestyles to achieve even greater success in delivering great outcomes for their clients.
“Equity release remains an important later-life financial option, and the availability of instant KFIs with Advise Wise will provide greater flexibility for homeowners and the advisers who assist them with unlocking their property wealth.”
Daniel Edmondson, national account manager at Advise Wise, added: “Our latest API integration with Royal London on the Advise Wise Platform provides significant efficiencies in generating quotes, ensuring accurate, live and granular pricing.
“By streamlining the process, we empower later life financial advisers to source mortgage products more effectively for older borrowers, ultimately delivering better service and value to their clients."
