Leadbay Launches Equity Release Leads

17th September 2008

Leadbay launched equity release leads at 2pm, 17th September, as a new offering to mortgage advisers; this will add to the range of mortgage, secured loans, unsecured loans, debt management, car finance and life assurance leads already offered by Leadbay.

Equity release will be available to consumers aged 55 and above who have either paid off their mortgages or whose outstanding mortgage or secured loan can be paid off by the amount of equity to be released.

Leadbay will use very strict LTV filters so that advisers stand the highest chance of converting the leads to business; the filters were devised with current equity release advisers after extensive research of the market.

Leadbay will be the only lead provider to filter borrowers by both age and by the amount of equity that they want to release. The amount that a prospective client can ask for will reduce the younger they are, so that each lead applicant is only looking for a realistic amount of money and the adviser stands the highest chance of converting that lead to business.

Advisers will be able to buy leads classified into four different loan amounts: 0-£25,000; £25,000- £50,000; £50,000-£75,000 and £75,000 and above. In addition they will be able to choose the postcode area in which they want the lead to come from as they can for all Leadbay's other leads.

Equity release will be available through Leadbay's bidding system which means that advisers choose exactly how much they want to pay for a lead and never pay more than they think is appropriate. Equity release leads will also benefit from Leadbay's full invalid lead policy which is the fairest of any lead generator and even includes refunds for leads that can genuinely not be contacted.

Grant Stevens said, "We have had a huge demand for Leadbay to introduce equity release leads; this is the growth area in the mortgage market at the moment and presents an opportunity for advisers to make money at a time when other mortgages are showing diminishing returns.

"At the same time there is a growing demand from consumers who recognise equity release as a realistic way to give them the money they need to help them fund their retirement."

Notes for editors Leadbay forms a part of Add Momentum which launched in the summer of 2003. It focuses on delivering innovative services that are customer-focused and easy to use. Its ethos is to bring people and technology together; to help people to fulfil potential, achieve new things and make a real difference.

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