Bridgewater Equity Release has launched a new quick quote calculator.

The home reversion specialist claims the tool is more accurate than any other system that has access to Bridgewater’s rates and gives advisers the ability to quote on all its products, including the Secured Escalating Release Plan.

Advisers are not required to log-in to use the calculator, meaning they can easily access it during discussions with clients and conveniently use it for reference and comparative purposes.

It also helps navigate users through the suitability process as advisers not sure of what product would be most appropriate for their client are able to adjust product and requirement information without having to re-input basic client details.

The calculator has also been pre-programmed with all of Bridgewater’s criteria, so it will automatically let advisers know if their client’s needs are within its parameters in terms of age and release limits. There is also functionality for advisers to obtain quotes for further releases for existing customers.

“The thought process behind the creation of our new quick quote calculator was to give advisers greater flexibility in what they can do across our entire product range,” explained Chris Prior, manager sales and distribution at Bridgewater Equity Release.

“With our original tool advisers could simply find out the maximum release or the percentage of property needed for a partial release; the enhanced functionality of the new calculator means they are now able to establish what products are likely to be suitable and whether their clients’ needs fit within our parameters.

“It is important that we continue to do everything we can to make the equity release adviser’s job as easy as possible and to help them understand and explain our products to their clients. Although there are a number of different factors to consider when advising on equity release, and whether individual clients are suitable or not, a lot of the time people want to know exactly how much equity they can release and our enhanced calculator lets advisers access this information at the click of a button. As a forward-thinking provider, it is vital that we harness technology to our benefit to ensure the advice process is as transparent, convenient and efficient as possible.”