From highlighting emerging customer trends to launching new digital support and educational content, Pure is helping advisers navigate an evolving landscape and deliver better outcomes for their clients. Read on to learn more from Pure’s Head of Distribution Scott Burman.
Sharing our insight
Over recent weeks we’ve shared the emerging trends among new lifetime mortgage customers that we’ve seen in Q2 in the trade press, as part of our commitment to widening market understanding of the current customer profile. Key headlines have included:
- The average property value was £404,000
- One in eight (12%) of new customers owned properties worth at least £700,000
- 27% of new lifetime mortgages were primarily taken out to repay debts and mortgages, with a further 23% listing home improvements as the primary reason for accessing housing wealth
- 56% of new customers preferred a lump sum plan
- 58% of new plans were taken out on a joint lives basis
- 64% of new single applicants were female
Improving the adviser journey
We’ve reaffirmed our commitment to supporting all the market, all the time with the launch of a new and comprehensively overhauled website which focuses on improving the user experience through additional resources.
It also features a total of four online calculators, including two new additions – a maximum LTV calculator on the homepage enabling advisers to easily determine the maximum available LTV for their clients and an online universal interest servicing calculator, which assists advisers in easily demonstrating the benefits to their clients of making regular repayments.
Additionally, the new product comparison tables help offer streamlined reviewing of key lifetime mortgage, while an expanded resources section includes access to our marketing toolkit, and a new academy area for marketing guides and insights on understanding audiences and customers.
Helping advisers to reach their clients
We’ve added to our Adviser Marketing Toolkit, a free to access service for all advisers registered with us, which offers access to a range of print and digital marketing templates, along with white label guides and literature – all of which can feature advisers’ own branding, helping to provide tools to reach customers and build trust.
New additions include:
- Clarifying Common Misconceptions about Equity Release
- Customer Profiles Guide, showcasing examples of lifetime mortgage use, and available in both consumer and introducer-facing versions
- A lead generation guide ping advisers to grow their business.
We hope these new items will provide advisers with the tools to help potential clients effectively analyse their options and make informed decisions.
Spreading knowledge and wisdom from industry professionals
We’ve released the second episode of Purely In Conversation hosted by National Field Sales Manager, Jane Mullan. The latest edition features Kelly Worthington, Director of Later Life Freedom, as she shares her journey through the later life lending sector, reveals the marketing strategies that have shaped her success, and offers a glimpse into her vision for the future of mortgage advice.
It follows on from a first episode that features Sara Robinson from Equity Release Associates and Matthew Taylor from Equilaw and explores their journey through the later life lending market, how it led them to where they are today, and how they’ve seen the market evolve first-hand.
Podcast episodes are available through YouTube, Spotify and Apple.
Supporting advisers in delivering for their clients
Having identified it as a pain point among advisers, we’ve recently published new content on our website designed to help advisers prepare clients for a valuation, and by extension reduce the risk of a decline at valuation owing to simple fixes like clutter.
The content not only explains some of the challenges, but also offers practical advice to mitigate against them and deliver best outcomes – for both pre and post-completion.
The new content can be found here.
The views of contributors are not necessarily those of the Council.
