Mortgage Magic has announced it will be adding an equity release module as the latest enhancement to its platform.

The module will be available to adviser firms who hold relevant FCA permissions and for which there will be no extra charge, the CRM and mortgage management system confirmed.

Mortgage Magic said its additional functionality will encourage any equity release specialist looking for a CRM system that encompasses the recording of equity release cases alongside their day-to-day mortgage business, to adopt Mortgage Magic as their preferred CRM option.

Currently, the module is being piloted by a “small number of firms” and will be fully released in the first week of February, with Mortgage Magic adding that plans are also underway to integrate equity release sourcing providers by the end of Q3.

“Equity release as a means of raising capital for older customers has moved from being a peripheral activity into the mainstream in a very short time period,“ said Mortgage Magic managing director, Tanjir Sugar. 

“Mortgage and financial advisers have been looking for a case recording facility that takes into account the unique requirements that are part of the equity release advice process. With our equity release module and our upcoming sourcing integration, advisers are going to be fully equipped to confidently offer a five star service in this growing sector.”

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