Standard Life Home Finance has launched its Horizon Interest Reward product on Iress’ The Exchange.

Horizon Interest Reward has also been added to Air and Advise Wise since entering the market in January.

The latest launch means it has full distribution across all sourcing platforms.

The product is aimed at equity release customers who can commit to making monthly payments instead of the traditional voluntary model.

These customers will unlock a rate discount based on the percentage of the interest served and the length of the committed payment term.

Iress head of business development, sourcing Warren O’Connell says: “Adding the Horizon Interest Reward product to our offering is another step in our long-term strategy to help advisers deliver a personalised, compliant, and market-leading service.”