The aid offers up a variety of reasons why a potential equity release client may find a reversion plan more suitable for their needs. It is designed to help advisers in their sales and advice process by highlighting a number of the fundamental attitudes, ideas, and beliefs that potential home reversion clients often have.
These might include:
- A conservative view on future house price inflation.
- An optimistic attitude to risk on their life expectancy.
- Wanting to ensure that a percentage of their property will be left to their estate.
- Wanting the certainty of further releases in the future if they have not released the maximum cash possible.
Research from Which? last year revealed that some equity release advisers were too quick to dismiss the home reversion plan option based on misunderstanding or misconceptions about the product and its place in the market.
This sales aid is therefore able to help advisers work through the needs and circumstances of each client and help them ascertain whether a reversion plan is suitable and which type of reversion plan would be most appropriate.
Advisers can access and print a copy of the Reasons Why sales aid by visiting the new Bridgewater Equity Release website.
Peter Welch, Head of Sales and Distribution at Bridgewater Equity Release, commented:
“This ‘Reasons Why’ sales aid for equity release advisers continues our commitment to providing regular information about not just home reversion plans but also on a variety of issues which are often raised by clients.
"This particular document outlines the varied reasons why a potential equity release client may be better suited to a home reversion plan rather than either a lifetime mortgage or another option. We always urge advisers to get to the heart of a client’s beliefs, wants and needs when it comes to what they want to achieve now and in the future and how they view the variable factors which might affect this.
"The sales aid reminds advisers that there is much more to equity release than simple questions about the amount the client wants to release and it should help in shaping their understanding of the reversion plan products available today.”
