Mortgage Magic will add an equity release section to its tech platform that will allow financial advisors to search for the latest data on these cases.

The tech firm says the module will be available to adviser firms who hold relevant FCA permissions, and will carry no extra charge.

The system is currently being piloted by several firms and is scheduled for release in the first week of February.

The business plans to integrate equity release sourcing providers by the end of the third quarter.

Mortgage Magic managing director Tanjir Sugar says: “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.”

Last February, the firm began offering its customer relationship management platform free to small brokers.

The platform incorporates artificial intelligence and blockchain technology that helps advisers processes and compliance.