Brilliant Solutions adds L&G to new equity release panel

Members will now have access to Legal & General's product range, which includes its flexible, optional payment, and income lifetime mortgages.

The flexible lifetime mortgage allows clients with either a small mortgage, or no mortgage, to release the money tied up in their property without having to move home or make monthly payments. The loan provides homeowners with a tax-free cash sum which they can draw as and when they need to.

The optional payment lifetime mortgage allows clients to choose to pay some, or all, of the monthly interest and they can also stop making monthly payments at any time.

Finally, the income lifetime option allows later life homeowners to release the money tied up in their property with a regular monthly income for a fixed term of 10, 15, 20 or 25 years.

Marie Catch, head of mortgage broker sales at Legal & General Home Finance, said: “As greater numbers of homeowners look to release equity from their home, we are delighted to join the new equity release panel and offer our range of flexible lifetime mortgage products to Brilliant Solutions.

"We look forward to offering flexibility and choice to the brokers working with Brilliant Solutions and to help more people make the most of their retirement.”

Matthew Arena, managing director at Brilliant Solutions, added: "The addition of the Legal and General lifetime mortgage range is an important milestone for our later life lending support for our brokers. The product set is customer centric and no doubt it will help us and brokers using our club deliver better solutions for borrowers, thanks to their flexibility and competitive pricing."