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 get qualified?
To advise or refer clients on lifetime mortgages, you’ll need to be appropriately qualified. If you’d like to advise directly, we can support you. You’ll need a Certificate in Equity Release to meet the FCA’s requirement for mortgage advisers and those advising on equity release schemes.
What to expect from the certificate
- Develop your advisory skills.
- Gain a better understanding of equity release regulation.
- Learn everything you need to know about the products, market practice, and customer needs.
To find out more, visit the CII's official website on the Certificate in Equity ReleaseView - Certificate in Equity Release.
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)
- Advise Wise Mortgage Club
- Premier Equity Release Club
- Simply Biz Mortgages
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
