Equity Release Group (ERG) has announced a new partnership with Responsible Lending, the exclusive providers of the Royal London Equity Release product range.
The partnership follows the news of ERG’s recent strategic partnership with price comparison service – MoneySuperMarket (MSM) – to enable MSM consumers to compare the equity release market and research their personalised later life lending options.
Mark Gregory, founder & CEO at Equity Release Group, said: “Partnering with Responsible Lending is a fantastic affiliation and opportunity for both parties as it enables Responsible Lending to increase their distribution through Equity Release Supermarket and our partners such as MSM, whilst providing us with three product additions to benefit our customers.
“Given that Responsible Lending will be embarking on our partnership program, they will also gain valuable access to smartER – the UK’s only equity release comparison tool – providing a digitally comparative suite to consumers. This not only provides greater consumer choice, independence and transparency, but direct customer and adviser engagement.
“The market has been crying out for a broader product mix, and now with the addition of the Royal London Equity Release products, alongside the breadth and depth of our consumer base, we expect to see increased distribution and growth within the market.”
Equity Release Group’s customers, partners and advisers will have access to all three of the new products in the Royal London Equity Release product range – Principal, Standard and Premier. The latter two offer live, flexible pricing results via API feed, plus product features currently including no application or valuation fees, downsize protection and flexible voluntary payments up to 10% pa of the original loan.
Chris Flowers (pictured), intermediary sales director at Responsible Lending, said: “We are delighted to have partnered with Equity Release Group to roll out three new products to the wider broker community and their customers.
“The expansion of our range via Equity Release Group’s unique technology landscape will allow for far greater flexibility and choice, which consumers continue to require and demand.
“Equity release remains an important later life finance option, and through this affiliation we believe we are improving the options, possibilities and meeting the specific needs of homeowners looking to unlock their property wealth across the UK.”
Mark Gregory, Founder & CEO at Equity Release Group added: “Our aim is always to push for greater accessibility and make it easier for people to explore all their equity release options. Our technology offers people choice, underpinned by centralised data and a scalable platform.
“This partnership will allow for a broader product range and greater transparency for consumers in terms of comparing the market, the rates, the features and much more.”
