Iress has announced a series of enhancements to its Equity Release service on The Exchange as adviser demand continues to rise and lenders introduce more later-life lending propositions.
The updates, available at no additional cost to users, are designed to give advisers richer product information, improved modelling options and greater flexibility when integrating the service into their own systems.
The changes include expanded product data on the results screen, where advisers can now see the maximum available loan, maximum loan-to-value, and the maximum allowable overpayment without penalty.
Iress said these additions give a clearer picture of product suitability and the level of flexibility offered.
Advisers can also now filter and sort ‘Payment Term’ products by the length of the fixed-interest payment period, with indicators showing whether payments are mandatory or linked to incentives.
The modelling screen has been upgraded to allow advisers to illustrate the longer-term impact of making interest-servicing payments over a defined period, including the effect of future withdrawals.
Iress said this is intended to provide clients with a more detailed financial forecast when considering later-life lending options.
The enhancements are also available through the Iress API, enabling third-party partners such as the Premier Equity Release Club to access detailed data and documents directly.
Jacqueline Durbin, head of product for sourcing at Iress, said: “We’re seeing rapid innovation across the equity release market, driven by both adviser demand and lender creativity.
“These developments are a direct response to that change and an important step in our broader strategy to bring together residential mortgages and equity release into a single, unified, holistic advice journey.
“Our goal is to give advisers the tools and data they need to guide clients confidently through every stage of their later-life lending decisions.”
Lyn Perrett, founder of the Premier Equity Release Club, said: “We are delighted to see Iress continue to invest in its Equity Release service.
“These new data points and modelling tools are invaluable, allowing our members to provide even more comprehensive and tailored advice to their clients.
“The enhanced API access gives us the flexibility to integrate these powerful features directly into our platform, which provides a comprehensive system including CRM, fact-finding and case management.”
