Iress has announced a series of enhancements to its equity release service on The Exchange to meet growing adviser demand and support ongoing lender innovation in the later life market.
The new capabilities, available at no extra cost to users of The Exchange, deliver expanded product data, advanced modelling tools and improved API access, helping advisers provide more comprehensive personalised advice to clients exploring equity release and other later life lending solutions.
The enhancements include:
● Expanded product data: The results screen now displays new key data, including the maximum available loan, maximum LTV, and the maximum allowable overpayment without penalty, giving advisers a clearer view of product suitability and flexibility.
● Sorting and filtering for ‘payment term’ products: Advisers can now filter and sort products featuring fixed-interest payment terms by length, with clear indicators showing whether payments are mandatory or linked to product incentives.
● Interest servicing modelling: An upgraded modelling screen enables advisers to accurately illustrate the long-term effects of making interest-servicing payments over a defined period, including the impact of future withdrawals - providing clients with a more comprehensive financial forecast.
These enhancements are also available to third-party integrators, enabling partners such as the Premier Equity Release Club to retrieve detailed data and documents seamlessly via the Iress API.
Jacqueline Durbin, head of product for sourcing at Iress, 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.”
