Iress enhances its equity issuance services on the exchange.
These enhancements include expanded product data, which means results screens now display new key data.
This includes the maximum loan available, maximum loan-to-value (LTV) and maximum overpayment allowed (without penalties), giving advisers a clearer understanding of the product’s suitability and flexibility.
Additionally, “Payment Term” products will be sorted and filtered. The new functionality will allow advisors to filter and sort products with fixed interest payment terms by length, with clear indicators showing whether payments are mandatory or tied to product incentives.
Iress also added interest service modeling. The upgraded modeling screen enables advisors to accurately account for the long-term impact of interest payments over a defined period, including the impact of future withdrawals, providing clients with more comprehensive financial forecasts.
These enhancements are also available to third-party integrators, enabling partners such as Premier Equity Release Club (PERC) to retrieve data and documents through the Iress application programming interface (API).
“We are seeing rapid innovation across the equity release market, driven by adviser demand and lender creativity,” said Jacqueline Durbin, head of product sourcing at Iress.
“These developments are a direct response to this change and are an important step in our wider strategy to integrate residential mortgage lending and equity issuance into a single, unified, comprehensive advisory journey.”
“Our goal is to provide advisors with the tools and data they need to confidently guide clients through every stage of their future loan decisions.”
In August, Iress said revenue at its UK business rose 12% to A$57.4m (£27.9m) in the first half of the year compared with 12 months ago, thanks to the addition of a brokerage platform and software upgrades.
