Royal London Equity Release has rolled out its new Principal product to all advisers through the Advise Wise platform.

Members of Advise Wise can now request instant key facts illustrations (KFIs) for all products in the Royal London Equity Release product range.

The Principal product features 10-year early repayment charges as well as in-house underwriting, and partial repayments can be made with the option to pay up to 10% of the total cash advance within each 12-month period.

Royal London Equity Release confirmed that the product is available to over-55s homeowners, up to the day before their 90th birthday, and that the minimum property value to be eligible for these products is £125,000, with a maximum value of £2m.

“Partnering with Advise Wise to roll out the Principal product takes our brand and products to the wider broker community and their customers,” commented intermediary sales director at Royal London Equity Release, Chris Flowers.

“It is more important than ever that advisers have access to the right products suitable for individual needs and lifestyles to achieve even greater success in delivering great outcomes for their clients.

“Equity release remains an important later-life financial option, and the availability of instant KFIs with Advise Wise will provide greater flexibility for homeowners and the advisers who assist them with unlocking their property wealth.”

National account manager at Advise Wise, Daniel Edmondson, added: “Our latest API integration with Royal London on the Advise Wise platform provides significant efficiencies in generating quotes, ensuring accurate, live and granular pricing.

“By streamlining the process, we empower later life financial advisers to source mortgage products more effectively for older borrowers, ultimately delivering better service and value to their clients.”

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