Sentry Lifetime & Brightstar Announce Partnership
Brightstar Financial has launched a later life lending service for brokers through a new partnership with Sentry Lifetime.
Many Brokers in the U.K are not qualified or have the relevant experiences to give advice on Lifetime Mortgages which is a specialist area of financial services and requires specialist qualifications. These brokers can now contact Brightstar with a client referral and Sentry will provide the advice and recommendations.
Sentry Lifetime offers whole of market, independent lifetime mortgage advice through a team of FCA regulated professionals who are members of the Equity Release Council.
Rob Jupp, chief executive officer at Brightstar Financial, said: “Demographics dictate that later life lending is one of the biggest areas of opportunity for brokers, but it is a specialist area and equity release has its own qualifications and separate permissions. By launching our later life lending service, we are enabling brokers to diversify their offering whilst maintaining focus on their core areas of business.”
Thomas Webster, managing partner at Sentry Advice Limited, added: “Lifetime mortgages are the most popular form of equity release as they enable the borrower to retain ownership of the property. It’s an area of growing demand and our partnership with Brightstar means that brokers can access the opportunity even if they don’t have experience or expertise in this area. We will do the hard work and own the advice, but brokers can maintain ownership of the client and take a share of the proc fee.”
The partnership has been covered widely in the industry press and more can be read on: Mortgage Strategy, Mortgage Solutions and Financial Reporter.
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Mortgages to Purchase a Property
Mortgages to purchase a property a fee of £495 is payable on application – this is fully refundable if we are unable to obtain a mortgage offer.
Remortgages
For processing a remortgage a fee of £295 is payable on application – this is fully refundable if we are unable to obtain a mortgage offer.
Rate Switch / Product Transfer
For processing a product transfer/rate switch where you are remaining with your current lender a fee of £145 is payable on application.
Adverse Credit
For applications where there is a history of adverse credit then a total fee of £495 will be charged, of which £245 is payable at the point a personal recommendation is made, whether you decide to proceed or not. The remaining £250 is payable if/when an application is made and is refundable if we are unable to obtain a mortgage offer.
Equity Release Mortgages
A total fee of £990 will be charged, of which £495 is payable at the point an application is made with a provider. The remaining £495 is payable if/when the application completes.
We can accept payment via bank transfer, credit/debit card via PayPal.
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Sentry Advice Limited are authorised and regulated by The Financial Conduct Authority and are entered on the Financial Services Register (www.fca.org.uk/register) under reference number: 624557
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