Pensions and retirement specialist LV= has agreed a new partnership to advise customers contacting them directly about taking out an equity release plan.
Clients who contact LV= enquiring about equity release plans will be referred to Age Partnership, who will advise on the most suitable products available from the whole of the equity release market.
The launch of a direct channel by LV= follows a series of recent improvements the mutual has made to its equity release business.In August 2020, LV= announced the launch of a new drawdown product – Lifetime Mortgage Drawdown+ in addition to its Lump Sum+ product. In addition, it launched the LV= Equity Release Portal allowing advisers to submit and track lifetime mortgage applications online and complete new business more quickly.
Age Partnership is the UK’s largest equity release broker providing independent whole-of-market equity release advice to thousands of UK homeowners every year. Due to their specialist expertise and size, Age Partnership is able to provide clients with access to exclusive plans in order to find the best financial solution for their individual needs.
Clive Bolton, Managing Director of Savings and Retirement at LV=, said:
“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.”
Dan Baines, Commercial Director at Age Partnership, said:
“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. We look forward to providing LV= customers with safe, clear and balanced advice on their options in this area and, ultimately, to improve their lives.”
LV= is a leading financial mutual. When we started in 1843 our goal was to give financial security to more than just a privileged few and for many decades we were most commonly associated with providing a method of saving to people of modest means. Today we follow a similar purpose, helping people to protect and provide for the things they love, although on a much larger scale and through a wide range of financial services including insurance, investment and retirement products.
LV= and Liverpool Victoria are registered trademarks of Liverpool Victoria Financial Services Limited (LVFS) and trading styles of the LV= Group of Companies. Liverpool Victoria Financial Services Limited, registered in England with registration number 12383237 is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, register number 110035. Registered address: County Gates, Bournemouth, BH1 2NF. Phone: 01202 292333.