Lender to provide more advisers access to its equity release products
Standard Life Home Finance has announced a strategic partnership with wealth management organisation St. James’s Place, increasing nationwide adviser access to its later life lending products.
Under the agreement, St. James’s Place’s authorised advisers can register on Standard Life Home Finance’s online portal to gain access to its entire suite of Defaqto 5 Star rated products.
These equity release products include a variety of LTVs, as well as both drawdown and lump sum options. Features of these products include fixed early repayment charges (ERCs) under 10 years, unrestricted ERC exemption on sale of property following death or admission into care for the first borrower, downsizing protection from day one, and inheritance protection.
Standard Life Home Finance products will be available to St. James’s Place advisers via Air Sourcing, a platform for later life lending professionals, as its preferred route.
“With a wider variety of customers interested in equity release than ever before, we are delighted to announce this partnership with St. James’s Place,” said Kay Westgarth (pictured), head of sales at Standard Life Home Finance. “This move will provide more advisers with access to the Standard Life Home Finance product suite as they look to support their clients in the current market.
“All our products come with downsizing and inheritance protection from day one, as well as fixed ERCs, which can be hugely beneficial for St James’s Place customers who wish to consider a wider range of financial factors.”
Paul Johnson, head of mortgages at St. James’s Place, said the new partnership was another important step in helping it deliver “a truly customer-centric service.”
“Residential property is increasingly becoming part of most people’s retirement planning – whether they plan to access the wealth tied up in bricks and mortar, or need to consider the inheritance tax implications,” Johnson stated.
“By partnering with Standard Life Home Finance, our advisers are now able to access an additional range of later life lending products to support these ambitions. With features such as downsizing and inheritance protection as standard, we are confident that our clients will benefit from not only having a wider choice but access to options that suit their individual circumstances.
“We look forward to working with the Standard Life Home Finance team.”