FAQs

We've put together a list of frequently asked questions around getting started with selling lifetime mortgages.

What qualification do I need and how do I get it?

You'll need one of the below equity release qualifications to advise on lifetime mortgages.

How do I source the products?

There are a number of systems where the products can be found. Please see links below:

If I'm already registered with Legal & General and have an existing protection agency number, do I still need to register with Legal & General Home Finance?

Yes, you’ll still need to register with Legal & General Home Finance as it’s a separate business to protection although they’re part of the same group.

What are the procuration fee rates and how will I get paid?

Procuration fee rates will vary and will be paid through various distribution routes dependant on the club or network you are part of.

What other Mortgage Clubs are there?

There are a number of clubs which offer a distribution payment route and a varying level of additional support. These include:

  • AIR Mortgage Club (formerly known as Equity Release Club)
  • Legal & General Mortgage Club (LGMC)
  • The Mortgage Alliance (TMA)
  • Paradigm Mortgage Services
  • Premier Mortgage Services (PMS)

Which other lenders offer lifetime mortgage products?

As with the residential mortgage market, there are many lenders who offer lifetime mortgage products. The lenders in this market in addition to us are:

  • Aviva
  • Canada Life Home Finance
  • Hodge Lifetime
  • Just
  • LV
  • More2life
  • One Family
  • Pure Retirement

What is the Equity Release Council?

The Equity Release Council (ERC) are the industry body for the equity release sector. They represent lenders, qualified advisers and solicitors.

Once you become a qualified adviser, it is recommended that you become a member of the ERC in order to demonstrate you're aligned with industry standards.

View - Equity Release Council