Iress has upgraded its equity release service on The Exchange in response to rising adviser demand and what it sees as growing product innovation in the later-life lending market.

The enhancements, which are available to users at no additional cost, are designed to offer richer data, more sophisticated modelling and improved connectivity with third-party platforms. Iress said the changes form part of its broader plan to create a more integrated approach to mortgage and later-life advice.

RICHER PRODUCT INSIGHT

A key element of the upgrade is the expansion of product information displayed on the results screen. Advisers can now see the maximum available loan, the maximum loan to value and the maximum level of penalty-free overpayment. Iress said these additions are intended to offer a clearer picture of each product’s flexibility and suitability.

In a further refinement, advisers are able to sort and filter products with fixed-interest payment terms by their duration, with indicators showing whether those payments are mandatory or linked to incentives.

ADVANCED MODELLING AND API ACCESS

The modelling screen has also been reworked to allow advisers to illustrate the long-term effect of making interest-servicing payments over a chosen period. The tool now incorporates the impact of future withdrawals, giving clients a more rounded understanding of how their borrowing may develop over time.

These features are mirrored in the Iress API, enabling firms such as the Premier Equity Release Club to retrieve data and documents directly for use within their own systems.

Iress’ head of product for sourcing, Jacqueline Durbin, said: “We’re seeing rapid innovation across the equity release market, driven by both adviser demand and lender creativity.

“These developments are a direct response to that change and an important step in our broader strategy to bring together residential mortgages and equity release into a single, unified, holistic advice journey.

“Our goal is to give advisers the tools and data they need to guide clients confidently through every stage of their later-life lending decisions.”

Premier Equity Release Club’s founder, Lyn Perrett, said: “We are delighted to see Iress continue to invest in its Equity Release service.

“These new data points and modelling tools are invaluable, allowing our members to provide even more comprehensive and tailored advice to their clients.

“The enhanced API access gives us the flexibility to integrate these powerful features directly into our platform, which provides a comprehensive system including CRM, fact-finding and case management.”