More2life introduces semi-automated valuations for equity release

Advisers can now offer clients access to Maximum Choice, Prime Choice, Tailored Choice and Capital Choice products without a surveyor needing to conduct a physical valuation in order for the case to progress.

All products have no valuation fees, but additional temporary criteria have been introduced on some products to facilitate lending. While this varies by product, this may mean restrictions on properties with flat roofs or with none standard construction as they can be harder to value.

more2life has also introduced additional support for advisers, upskilling its home-based operational teams and enhancing its fastpath portal to ensure it can process business as quickly as possible.

Its online ‘Learning Lab’ also has a suite of new information and guidance designed to support advisers as they service customers remotely. This includes tips for homebased working, help on running effective telephone-based advice, tips to increase online visibility, and ideas on how to keeping clients informed in a socially-distant world.

Dave Harris, CEO of more2life, said: “Having been monitoring the coronavirus situation carefully, it soon became clear that face-to-face valuations would simply not work in the world of social distancing and self-isolation. To help clients who are relying on the proceeds of equity release and support their advisers, we have been working closely with our funders to see how we can meet this challenge.

“We are therefore delighted to be in a positon to announce that we are now the first volume lender to be able to offer semi-automated valuations across the majority of its product range. This is a hugely positive step for the industry and clearly illustrates that by working together, we can continue to serve our customers even in these exceptional circumstances.”