Legal & General Home Finance’s API link on the Advise Wise Platform will allow advisers to manage lifetime mortgage applications through its adviser platform. APIs allow different pieces of software to share information in real time, including due diligence research.
5 Feb 2024
Legal & General Home Finance has launched an API (Application Programming Interface) link with the Advise Wise Platform, allowing advisers to manage lifetime mortgage applications seamlessly through its portal.
API links help improve the adviser journey by allowing different pieces of software to share information with them in real time, including enabling advisers to carry out due diligence research quickly and efficiently.
Legal & General Home Finance’s partnership with Advise Wise will allow advisers to search and recommend Interest Roll Up and Optional Payment Lifetime Mortgage products for their clients, as well as providing extensive research filters to meet individual customer needs. The platform will also enable advisers to request multiple Key Facts Illustrations (KFI) instantly across Legal & General Home Finance products.
It follows Legal & General Home Finance’s API links with software provider Iress and later life lending platform Air Sourcing, which has supported advisers in streamlining their client application processes.
The new API link is one of a number of innovations Legal & General Home Finance has introduced to help advisers drive better customer outcomes. This includes a new personalised approach to lifetime mortgage pricing to help provide customers with the best possible rate for their specific circumstances. The provider also recently launched the first-of-its-kind Payment Term Lifetime Mortgage (PTLM) to improve the options available for borrowers over 50 whose needs are not always being met.
David G Jones, Distribution Director, Legal & General Home Finance: “Our seamless API link with Advise Wise is one of several innovations we’ve recently introduced to help advisers effectively support their clients. The link will not only save advisers having to rekey client information, but it will also streamline the overall application process.
“Lifetime mortgages play a significant role in long term planning, and we are constantly working to make our products more accessible to advisers. As the market evolves, alongside new technologies, we aim to create more links on adviser sourcing sites.”
Benjamin Wells, Head of Product and Development, Advise Wise: “Advise Wise remains at the forefront of innovation in the financial advisory space, and the introduction of Instant KFIs for Legal & General plans is a testament to the company's dedication to simplifying processes and empowering advisers. This enhancement on the Advise Wise Platform represents a further significant step forward in providing advisers with the tools they need to deliver exceptional service to their clients efficiently."
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.2 trillion in total assets under management* of which 39% is international. We have a unique and highly synergistic business model, which continues to drive strong returns. Legal & General provides powerful asset origination and management capabilities directly to clients, which also underpin our leading retirement and protection solutions. We are a leading international player in Pension Risk Transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Our purpose is to improve the lives of our customers and create value for our shareholders. Through inclusive capitalism, we are investing in long-term assets, such as real estate and infrastructure, that can help build a better society for the future.
Legal & General Retail helps create brighter financial futures for all our customers. The division covers the savings, protection and retirement needs of our c.13 million retail policyholders and workplace members.
In 2022, we had total individual annuity sales of £954 million, and issued £632 million of Lifetime Mortgages and Retirement Interest Only Mortgages. Our Workplace pension platform served 4.9 million members, while our Protection businesses gave peace of mind to more than 6.3 million UK life insurance, 1.8 million group and 1.5 million US customers, taking in £3.1 billion of gross written premiums.
*at 31 Dec 2022