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Ochresoft launches new Intelliworks Equity Release Pro workflow|Equity Release

Ochresoft launches new Intelliworks Equity Release Pro workflow

Why Equity Release Is Important

According to Equity Release Council research, the equity release market is six times larger in 2022 than it was in 2011, with total lending activity increasing from £789 million to £4.8 billion over the last decade. Consumers are also enjoying more product choice than ever before, as the number of different available equity release products has trebled between 2019 and 2022.

In response to the market growth and introduction of new lending products, the Equity Release Council has continually developed and refined its Standards to promote the highest levels of consumer protection. The Council has recently published the tenth version of its Standards, which includes a new fifth ‘product standard’ to allow consumers to make penalty-free partial loan repayments.

About our Updated Workflow

To reflect these significant changes in the equity release market and its regulatory framework, we have launched a new Equity Release Pro Intelliworks workflow. The new workflow incorporates extensively enhanced features specific to equity release transactions, as well as improved content within the Intelliworks letters and documents suite.

Equity Release Pro supports practitioners to provide high quality client advice on the broad range of lifetime mortgage products now available to consumers. It contains tools to aid fee earners in conducting effective face-to-face client meetings, with tailored meeting checklists and complete audit trails to document the advice provided.

The new workflow includes comprehensive features to assist fee earners in complying with the rules and best practice guidance set out by the Equity Release Council, as well as managing risks relating to referrer conflicts, mental capacity, undue influence, money laundering and property fraud.

Watch a video to see our Equity Release workflow in action below.

Updated Workflow Features Include

  • Upgraded user interface
  • Refreshed Lifetime Mortgage Offer Received process
  • Schedule of Requirements process for dynamic scheduled tasks
  • Improved Report to Client and client-facing advice
  • Functionality to support face-to-face client meetings
  • Robust risk management and compliance tools
  • Comprehensive anti-money laundering process
  • Updated Client Completion Statement and option for VAT on expenses
  • Supporting conveyancing tasks

Equity Release Pro is now available for our customers to use and is accompanied by a detailed release note setting out the new features and enhancements.

Please get in touch to talk to an expert about getting started with our Equity Release Workflow.

Watch a video below to see our workflow in action.




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