Equity release specialist More 2 Life has launched an online portal designed to speed up applications.
By adapting technology used in the mortgage sector, the new tool aims to expand support for brokers, removing the need for signatures on some applications.
More 2 Life claimed this technology has cut the application process time to 15 minutes.
By highlighting the questions brokers need to ask customers and collecting information so that non-qualifying criteria is identified early on in the process, it means customers can find out what they qualify for more quickly, according to a statement from the firm.
It also has medical questions built into the application, removing the need for separate links for medical reference.
Dave Harris, managing director at More 2 Life, said: “The new portal incorporates technology which has been standard in the mainstream mortgage market for years and will speed up the journey for equity release customers immensely.
“It genuinely transforms the use of technology in the market.”
Mr Harris said listening to the needs of specialist equity release customers and advisers has been a key focus for the business in 2015.
The new portal is adapted for use on mobiles and tablet friendly and email and text updates are available for the progress of each case.
katherine.denham@ft.com
