This month, we sat down with Beth Ellis, our Customer Service Team Manager, to find out more about her role at Royal London Equity Release and how her team are available to support your clients throughout their Lifetime Mortgage journey.

Hi Beth! Can you tell us a little bit about your role at Royal London Equity Release?

Hi! I'm the Customer Service Team Manager. I lead a team of people who offer support to our customers following completion of their initial loan.

What is your favourite part of your job?

Knowing our customers. Our processes give us the opportunity to build relationships and to get to know the people we are supporting. There are some characters that we will remember forever!

Is there a customer story that stands out to you?

There is one further borrowing request that I will never forget. We took a call from a customer requesting to access their facility. However, during our initial investigation, we noticed that this differed from the intended use of funds, so we discussed the loan reason in further detail. Shortly after the initial loan had completed, the health of the customer's partner declined, and they were seeking to access their drawdown to fund additional care needs.

The customer's partner had additional needs that posed a problem to our usual process, as we were not able to obtain authority for the funds from both applicants to the loan. The change in circumstances had happened suddenly and the customers didn't have the opportunity to prepare.

Due to the nature of the funds request, we felt it was important to accommodate the needs of our customers, and we discussed internally how we could adapt our processes. We decided to reach out to the adviser, who was able to discuss the drawdown with the customers and gain their assurance, which we felt comfortable with. We petitioned both the funder and our risk team to allow the application to proceed, and the customers were able to get the support they needed. They were unbelievably grateful for the effort and time the team had put in to support them, and how easy we had made the process during a stressful time.

Thank you for sharing that case Beth. It shows how important your team is in ensuring our customers get the support they need.

When do you and your team get involved with a case?

My team is responsible for the customer relationship from the day their initial loan completes, right through to the point the account is redeemed. The redemption usually happens because a customer has passed away or moved into long term care, so we’re really with them for the rest of their lives. That feels like an important responsibility, and my team work hard to keep that at the front of their mind.

How do you and your team support customers?

We handle all communication with customers, including general account maintenance, such as sending annual statements and managing customer repayments. However, we do much more than admin to support our customers!

Drawdowns

Our team supports customers who wish to access additional funds from their existing facility. At this stage, customers are not required to speak with a financial adviser, so we focus on ensuring they have all the information they need to make an informed decision. This involves asking relevant questions to confirm understanding and maintain a positive relationship. Before any release of funds, we check that the customer is clear on the terms of their agreement and what this means for their loan. This process also provides an opportunity to reconnect and offer guidance on next steps. In addition, we reach out to customers who haven’t used their drawdown facility within three years to confirm their understanding and future intentions, helping us review ongoing suitability.

Customer understanding calls

We make sure to contact customers when they responded to a survey requesting further information.

Repayment monitoring

We get in touch with customers who deviate from stated repayment plans, such as if there is no payment after 1 year, or changes to the amount or frequency, to confirm financial understanding and well being.

Vulnerable customers

Wellbeing checks are conducted routinely to check in with customers. We check for any change in circumstance and provide additional support.

Redemption calls

It’s our job to engage with customers who redeem their mortgage early, to understand their reasoning and to ensure they are aware of product longevity and repayment terms. This also works as a great touch point for feedback, so that my team are always learning and improving.

What is one fun fact about you?

I went to university to study Theatre and Performance!

And finally, how can customers get in contact with the Customer Service Team?

Your clients can reach our Customer Service Team Monday to Friday, 9am to 5pm excluding bank holidays.

Contact our Customer Service Team