Leading independent equity release advisory experts, Equity Release Supermarket (ERS), today announced the expansion of their online tools for customers.
ERS were the first broker to introduce an online calculator and have gone on to launch a range of calculators to assist customers in a way that no other has.
The company has long been an industry leader in technological innovation and their ingenuity continues with the addition of 3 new calculators (drawdown lifetime mortgage, RIO mortgage and income lifetime mortgage) to take the suite of free to use calculators to 9 – covering the later life lending sector.
Equity Release Supermarket also exclusively offer 3 additional calculators allowing users to analyse various situations to help decide their best course of action. These are a switch plan calculator, which determines if moving to a new plan is financially beneficial, a voluntary repayment calculator, to help the user understand the benefit of making overpayments and an equity remaining calculator, to help customers understand the estate they will leave when their plan in repaid.
Mark Gregory, Founder & CEO commented: “The past couple of months have brought about significant changes to how we live and work, in particular encouraging people to embrace online activity and interact digitally.
“We have long been pioneers of technology within the industry, so are already geared up to bring our customers greater choice and flexibility online. We’ve just launched our new video chat solution, providing customers with that highly sought-after face-to-face interaction, and now our expanded range of online calculators add to our suite of digital tools.
“We now offer a calculator for each type of lifetime mortgage as well as for home reversion plans and for RIO (retirement interest-only) mortgages. Having a calculator that is specific to each option is vital as each equity release plan or mortgage has unique features that impact the final calculations of a customer’s loan.”
Equity Release Supermarket’s free-to-use tools for customers bring equity release plans to life. By converting a broad concept into solid numbers, customers can easily browse their options, tailoring their choices to more accurately match their personal circumstances.
The quick and easy to use calculators enable customers to develop an understanding of how much they could actually release and whether this will fulfil their financial goals.
Whilst other brokers typically provide one calculator, typically for a lump sum lifetime mortgage, none provide the extensive tools to appropriately represent the diversity of the equity release market or broader options available for later life lending.
Mark added: “Central to our success has been openness and transparency. We passionately believe that customers should have as much information and access to tools that can help them to research and gain confidence. That accompanied with our first-class, whole of market advice and service is what makes Equity Release Supermarket stand apart. But we don’t rest on our laurels and are constantly looking at the next innovation.”
“This is a pivotal time for the industry and opportunity for us all to embrace technology to improve our offering and attract new customer bases. I look forward to what’s to come.”