Equity release specialist Age Partnership has joined forces with criteria search system Knowledge Bank.
Brokers using Knowledge Bank now have access to the equity release market themselves, or via a trusted partner. Additionally, because of the partnership, brokers placing their cases with Age Partnership via Knowledge Bank will enjoy preferential proc fees.
When they sign up to Knowledge Bank, brokers will be given an option to say whether they have the relevant permissions to transact equity release business or not. If they are qualified they can quickly access and interrogate all the relevant criteria to place cases themselves. If they are not qualified to transact this business they will be presented with information on equity release and given the opportunity to refer their clients to Age Partnership.
Nicola Firth, CEO of Knowledge Bank, said: “Age partnership is a very well respected and award-winning broker and so we knew they were the best equity release organisation to have secured this partnership with. We wanted to create an environment where brokers could have real choices with their equity release business and fundamentally enjoy the best of both worlds.
“Whether they are qualified to advise on equity release or not, the Knowledge Bank system offers them a simple, practical solution to either proceed with a case or refer it to one of the leading and most highly respected brokers in the country.”
Adam Carnall, head of partnerships at Age Partnership, added: “The equity release market was undoubtedly one of the success stories of 2017. We have seen this market grow substantially in terms of product offerings but also the increasing sophistication and complexity of the criteria that sits behind the headline rates. This is why it was such a wonderful fit for us to create a partnership with Knowledge Bank who offer such a vital service in dissecting thousands upon thousands of criteria to enable brokers to get the right case to the right lender.
“We’ve been working hand-in-hand with Knowledge Bank to ensure that brokers using their system have the opportunity to place equity release cases in the right place for their clients circumstances.”