Financial technology provider Iress today announced that Aviva’s equity release real time rates are now integrated into Iress’ equity release platform - available through Iress’ The Exchange - allowing advisers to complete their whole of market research in one place and increasing their efficiency.
Developed in close collaboration with Aviva, the integration allows advisers to input customer and loan criteria, produce a personal quote summary document and use this to request a KFI (Key Features Illustration) with Aviva.
Demand for equity release has remained buoyant in the past year, despite the uncertainty caused by COVID-19. Figures for 2020 released by the Equity Release Council last week show that there has been a busy end to the year. This has been largely driven by pent up demand created by the suspension of mortgage market activity, adaptations to ways of delivering and recording mortgage valuations, and legal advice during the first half of 2020. While overall figures in 2020 were unsurprisingly down compared with 2019, it’s expected the market will continue to bounce back in 2021, driven by customer demand.
Iress’ executive general manager, Dave Miller, said: “Integrating Aviva’s real-time rates into Iress’ equity release platform means that advisers can - for the first time - get exact rates for all options offered by Aviva, and compare them in real time with other providers. It means that advisers are able to offer their clients products from an even wider section of the market and this is especially important in current market conditions. We’re proud of the close way Iress and Aviva have worked together to deliver personalised real time rates and this is completely integrated into The Exchange’s equity release platform.”
Aviva’s managing director of equity release, Greg Neilson, said: “We are delighted to be announcing this development with Iress, and that Aviva’s real time rates for equity release are now available on their platform.
“It is important that people consider all resources available to them when planning their retirement income, and accessing property wealth through equity release is increasingly part of the outcome.
“With this new arrangement and 24/7 access, advisers will be able to easily obtain bespoke rates, taking into account their clients’ individual needs, including medical enhancements, whether a specific initial loan and reserve facility is required or the maximum loan available, and using the client’s age next birthday to generate rates where applicable. We look forward to working closely with Iress in the future to ensure we continue to deliver services which support advisers in their client relationships.”
The new integration is available immediately and the Iress equity release platform is available free of charge to advisers through The Exchange.