MoneySuperMarket has struck a price comparison partnership with the later life business the Equity Release Group.
The financial services price comparison site says it will use the later life firm’s comparison tool on its platform to give potential borrowers “the flexibility to research different later life lending options in their own time before speaking to an adviser”.
The move will bring together the later life firm’s technology platform, Equity Release Supermarket as well as its lending partners – who include Aviva, LV= and Hodge.
Equity Release Group founder and chief executive Mark Gregory says: “There has been a sharp rise in the amount of people now using online tools for research purposes.
“Given the breadth and depth of MoneySuperMarket’s customer base, we foresee that this partnership will support growth within the market.”
MoneySuperMarket general manager Ashton Berkhauer adds: “We know more and more homeowners are looking to release equity to support their choices in later life.
“Our partnership with Equity Release Group allows homeowners to compare the equity release market and see the options that match their specific requirements.”
Equity Release Council chief executive Jim Boyd points out: “One of the biggest challenges facing the equity release industry is how to ensure that property is included when wider retirement conversations are taking place.
“To get a seat at the table, we need to continue to push for more recognition of the benefits of these products and make it easier for people to explore all their options.
“We therefore welcome the partnership between Equity Release Group and MoneySuperMarket as it will help more people to have these vital discussions around property wealth during their retirement planning.”
Later life lending was hit by “base rate rises and the aftershocks of the September 2022 mini-Budget”, the lender’s Equity Release Market Monitor 2023 reported.
