The module will be available to adviser firms who hold relevant FCA permissions.

Currently the added module is being piloted by a small number of firms and will be fully released in the first week of February.

Plans are also underway to integrate equity release sourcing providers by the end of Q3.

Tanjir Sugar, managing director of Mortgage Magic, said, “Our latest enhancement to include an equity release module, makes Mortgage Magic the most versatile CRM and business management system on the market – a full ‘enquiry to completion’ solution and hub to provide ongoing support and communication for all of your existing customers.

“Equity release as a means of raising capital for older customers has moved from being a peripheral activity into the mainstream in a very short time period.

“Mortgage and financial advisers have been looking for a case recording facility that takes into account the unique requirements that are part of the equity release advice process.

“With our equity release module and our upcoming sourcing integration, advisers are going to be fully equipped to confidently offer a five star service in this growing sector.”