SolutionBuilder offers risk & mortgage protection report

Published on

iPipeline has announced its latest update to SolutionBuilder, its research, quote and application solution for advisers.

SolutionBuilder now features a Risk & Mortgage Protection Report which enables advisers to demonstrate the importance and affordability of protection to their clients whilst arranging their mortgages. In June, advisers stated that 29% of mortgages are sold without protection.

Following input of basic mortgage details, the new service produces a report that helps align the client’s personalised risk during the mortgage term, against the likely protection costs. Covering Life, Critical Illness and Income Protection, the report will help advisers demonstrate and evidence the probable risk(s) the client faces if they do not have adequate protection cover in place and what the cost is likely to be to ensure that they, and their families, are protected.

Paul Yates, product strategy director at iPipeline, said: “Utilising the data we hold behind SolutionBuilder to populate the personalised report, is further supporting advisers to stress the importance of protection within their advice process. Advisers are able to better present potential risks and match solutions to their clients.

“This is another step forward in ensuring advisers have the right tools in place to nudge their clients into thinking about their protection needs.”

Cecil Caballero, protection proposition manager at Personal Touch Financial Services, added: “I believe this report is what is missing from the mortgage advice process. Mortgage advisers will now be able to highlight the cost of protection in a clear, easy to understand format which is vital to those clients who may not realise what it means if you are not adequately covered.

“There are clients who believe that protection cover is expensive and therefore not a priority, but spelling it out to them with the cost of their mortgage and what it means to not be able to cover it in the event of being unable to work or death is key to focus them.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

First-time buyer affordability remains strained despite narrowing house price gap

Only 12.1% of potential first-time buyers can afford the average starter home in their...

Royal London targets GP report delays with digital service

Royal London is expanding its use of digital medical evidence in an effort to...

Equifinance names Jackie Burchill as lending operations director

Equifinance has appointed Jackie Burchill as director of lending operations as the second charge...

House price-to-income ratio falls to 11-year low as mortgage costs rise

The gap between UK house prices and earnings has narrowed to its lowest level...

HSBC UK to examine Budget impact in intermediary economy webinar

HSBC UK will hold an economy webinar for mortgage intermediaries on 30 October, focusing...

Latest publication

Other news

First-time buyer affordability remains strained despite narrowing house price gap

Only 12.1% of potential first-time buyers can afford the average starter home in their...

Royal London targets GP report delays with digital service

Royal London is expanding its use of digital medical evidence in an effort to...

Equifinance names Jackie Burchill as lending operations director

Equifinance has appointed Jackie Burchill as director of lending operations as the second charge...