Legal & General Home Finance announces new measures to support advisers and customers

New online portal

LGHF is launching an online equity release study portal, which features content delivered by a CII-accredited tutor. A free-to-access service which usually costs £200, it aims to help aspiring equity release advisers secure the CII Certificate in Equity Release qualification or equivalent. More information can be found here

Moreover, LGHF’s entire programme of educational events for advisers will now be available online. Last year, these included workshops for intermediaries entering the equity release market and business growth seminars.

Paperless drawdown process

The drawdown process for existing customers is now paperless. For customers who request a drawdown, LGHF will email documents to them securely which can be accepted electronically.

Desk valuations

LGHF has implemented a desktop valuation process for its lifetime mortgage product range, which enables property valuations without a home visit. These are undertaken by independent surveyors, who use publicly available information to assess properties. Over 1000 valuations have so far been completed.

OPLM holidays

LGHF will allow all Optional Payment Lifetime Mortgage (OPLM) customers to miss up to three monthly interest payments, without these counting towards the six missed payments allowed in the product terms. All OPLM customers remain able to stop making monthly interest payments at any time and convert to interest roll-up.

Webinars

Legal & General is hosting a regular webinar series, ‘In Conversation With…’, which brings experts together to offer advice and share challenges with advisers. These are streamed live and available 'on demand' shortly afterwards.

The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions

A lifetime mortgage is a type of equity release that allows your client to unlock some of the equity from their home without having to move. It’s a loan secured against the client’s home. The amount that can be borrowed depends on a client’s age, the value and suitability of their home and whether they are applying jointly or as an individual. Dependent on the type of lifetime mortgage chosen, the client receives a cash lump sum, smaller amounts as and when required, or a regular monthly income. Interest is added to the amount they owe each month, which means we charge interest on the loan plus any interest already added. The lifetime mortgage is usually repaid from the sale of the property when the client(s) dies or leaves the property for long term care. If the client gifts money away the recipient may have to pay inheritance tax in the future. There may be cheaper ways to borrow money.