The online database allows AMI members to register as equity release specialists.
Intermediaries have been encouraged to get involved with lifetime mortgages, and Daren Carter, managing director of In Retirement Services, indicated that there was business available in the sector, but that brokers had to be prepared to do it properly.
He explained: “People are generally ill-informed about equity release. You have to be aware of the implications surrounding it before moving into offering it as a service.”
Following recent criticism of sale and rent back schemes, and the operation by unregulated firms, the move allows specialists to register and allow intermediaries to source an appropriately qualified expert.
AMI stated on the website that: ‘The concept of equity release is simple but it is a big decision to make and one that needs careful consideration. By consulting a specialist adviser who can explain the complexities around equity release you will be in a better position to decide if it is right for you.’
Andrew Dixon, marketing and sales manager at Bridgewater Equity Release, commented: “Anything that helps promote equity release is good. Those mortgage intermediaries who are already active will know who the leading advisers are but for those who are new it will help them with finding the right people.”
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