The agreement gives Key Retirement clients access to a 0.1% cashback on the value of their property.
ERC believes this to be a genuine Treating Customers Fairly (TCF) friendly product as the client not only gets free entry to the product but can also use the cashback facility to aid in the payment of their legal or broker fees.
ERC members and their clients will also benefit from Just Retirement’s recent introduction of a set-up and valuation fee free offer on all equity release applications received before 31 December 2008. Members will also receive 3% commission on any deal completed.
The shared exclusive agreement is subject to the youngest client being between 60 to 70 years old at application and the cashback offer is only available on applications submitted before 30 September 2008. Just Retirement’s age-related interest rates start from 6.29% AER fixed for life – the overall cost of comparison is 6.3% APR.
Stuart Wilson, managing partner of Equity Release Club, said: “In an emerging market it is important that advisers embrace TCF whilst offering real value to their clients and this shared exclusive agreement with Just Retirement is a shining example of just how innovative providers are currently being in order to make this happen.”
