SortRefer launches equity release legal service

The product will be added in two stages with a remortgage proposition launching today, followed by a proposition for sale and purchase transactions which will be added in the next month.

The service will offer real time progress updates within SortRefer's case tracking system and the firm says advisers will gain greater control of the conveyancing process.

The proposition includes a 'no completion, no fee' offer and an instant 'click and quote' facility on the SortRefer site allowing brokers to save or instruct the quotation.

The system will also offer advice from Equity Release Council solicitor members.

Kevin Tunnicliffe, chief executive at SortRefer, said: “Equity release lending is seeing massive growth. We want to offer the same kind of legal support for equity release cases, as we already do for conventional mortgages. Not many legal practices have the working expertise in this area and it is vitally important that advisers have the confidence to recommend the right legal service to complement their mortgage advice.

"We have appointed two firms, Birchall Blackburn and Equilaw, both of whom are Equity Release Council members with the expertise and knowledge of the sector to ensure that the process runs smoothly and customer needs are addressed in a way that everyone involved has confidence in the outcome.

"Accessing the service is as easy as it is for any of our other conveyancing services and introducers can generate instant penny accurate quotes and instruct online. This is the perfect service for an increasingly important market niche.”