Air Sourcing incorporates State benefit reporting system

AIR Sourcing, the sourcing system for equity release and retirement lending products, has incorporated a fully-integrated State benefits reporting system into its software.

Related topics:  Later Life
Rozi Jones
20th June 2018
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"The last thing advisers will want to do is potentially jeopardise the client’s access to benefits "

From today, users of AIR Sourcing will be able check whether their clients can claim benefits such as housing benefit, council tax support, pension credit, universal credit and many others.

The system has been built in association with entitledto, the provider of online State benefit calculators, allowing advisers to calculate all the key information regarding State benefit entitlements and import the results into a personalised report.

AIR Sourcing says the system provides the adviser, and their client, with full sight on their entitlement allowing them to ensure any recommendation does not impinge on their ability to secure State benefits.

AIR Sourcing is available free to all members of the Later Life Academy and will be available as an additional upgrade for non-LLA members.

Ray McCarthy, head of distribution at AIR Sourcing, commented: “Providing a report on a client’s State benefits is now a vital part of advising older clients, not only in achieving the best possible consumer outcome but particularly where clients are seeking to borrow to raise capital or increase income. The FCA’s recent announcement on retirement interest-only mortgages means advisers should always ensure clients are maximising their income in order to assess the suitability of these products before considering other options like downsizing or equity release.

“Having this State benefit reporting system within the AIR Sourcing software will allow advisers to avail themselves of all the facts with regard to benefit eligibility, and provide both them and their clients with a full view before embarking on the product recommendation. The last thing advisers will want to do is potentially jeopardise the client’s access to benefits and by linking up with entitledto, AIR Sourcing users are now able to ensure that the chances of such an outcome are seriously diminished.”

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