MortgagesNov 23 2011

Q: How should I use a sourcing tool?

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However Andrea Rozario, director general of Ship, said it is imperative to have a good knowledge of all of the products available.

Each product will have different features and different charges.

Ms Rozario said: “The skill of the adviser is to ensure they have matched the clients’ needs with the right product.”

However Vanessa Owen, head of equity release at LV, warned apart from Assureweb and the Avelo Exchange the information provided on equity release products on sourcing tools was generally quite limited.

She said as there were only a few equity release providers and products available it was worth spending the time speaking to the providers so you can understand what their products do, and don’t offer in detail.

She said: “This is important as the products and options vary quite considerably despite it being a relatively small market.”