Once approved by the FSA, the service – offered exclusively through intermediaries – will offer advice to people in retirement looking to release equity from their property, covering lifetime mortgages and home reversion plans to provide lump sums, drawdown or income dependent on client needs.
Just Retirement will not have a high street presence and will not market direct to customers. Instead it will work with a select number of introducers such as affinity groups and other financial services organisations to deal with enquiries. Clients will be offered full advice based on their personal circumstances and will have a choice of dealing either face-to-face with an adviser or by telephone.
Mike Fuller, chief executive of Just Retirement said: “We are very excited about the potential for equity release but remain concerned that the main brake on progress is the limited availability of advice in the market.
“I am very keen to help develop awareness of the benefits of equity release and ease of access for the public. It is therefore imperative that we continue to help IFAs develop the ability to advise on equity release alongside the launch of this new venture.”
