Legal & General Home Finance has launched an application programming interface (API) link with software provider Iress to allow advisers to manage lifetime mortgage applications through its adviser portal ‘The Exchange’.
The partnership will enable advisers to search and recommend Flexible and Optional Payment Lifetime Mortgage products for their clients.
It followed Legal & General Home Finance’s API link with the later life lending platform Air Sourcing, which supported advisers in streamlining their client application processes to provide better customer outcomes.
The new API link is one of a number of innovations introduced in recent months to help advisers better service their customers’ needs, including improvements to Legal & General’s lifetime mortgage range, and the launch of the first-of-its-kind Payment Term Lifetime Mortgage (PTLM) for borrowers over 50.
David G Jones, distribution director at Legal & General Home Finance, said: “Lifetime mortgages play an important role in long-term financial planning, and we are working constantly to make our products more accessible to advisers.
“Our seamless API link with Iress’ industry-leading portal will allow advisers to research, quote and compare clients’ later-life lending solutions quickly and easily – ultimately leading to better customer outcomes.”
Jacqueline Durbin, global head of product – life, pensions and mortgages at Iress, added: “We’re delighted to extend Legal & General’s presence on the Exchange platform to include real time equity release quotations, KFIs and applications.
“Lifetime mortgages are an ever-growing part of the landscape. Expanding our capabilities for these products and having Legal & General join is part of our ongoing commitment to the advisor community.
“The API-driven solution means that everything can be done from within the platform when applying for a Legal & General product, reducing friction and the potential for error, as well as making the whole process far more efficient.”