Cloud-based mortgage and savings software provider Finova has signed a new long-term agreement with LV= to support the group’s equity release platform.

The renewal extends a longstanding partnership between the pair into a new phase, which will see Finova support LV= with an expanded service portfolio to improve the scalability and resilience of its equity release range.

Finova said the partnership would facilitate the migration of LV’s equity release platform into the cloud, to improve the group’s operational efficiency in the equity release sector.

The agreement follows a strategic collaboration between the pair and builds on previous milestones, including the successful transition from legacy hosting providers.

Sales director at Finova, John Tilzey, said: “Our longstanding partnership with LV= has gone from strength to strength, and this new agreement reflects the shared commitment to delivering high-performing and customer-centric services in the equity release market.

“LV= continues to be at the forefront of market trends and conversations, and we truly value the collaborative way they work. We’re proud to support their ambition and continued leadership in this sector.”

Equity release proposition director at LV=, Patrick Oldham, added: “We’re pleased to renew and expand our partnership with Finova, especially at a time when the equity release market is growing and evolving.

“For LV=, this agreement is about further enhancing our digital capability in areas that matter most and to amplify our customer offering. We’re passionate about driving innovation in the sector, and look forward to building on this partnership.”

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