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The later life lending 'state of the nation' August 2018

Demand for Later Life Lending is increasing, but it is a specialist area with its own qualifications and permissions, so make sure that you partner with an expert you can trust.


We now have a Later Life Lending service for brokers, through a partnership with Sentry Lifetime. The new service means that brokers can offer a range of equity release solutions to their clients even if they do not hold the relevant qualifications. Just refer the client and you get a share of the proc fee on completion.


Later Life Lending is set to become one of the most in-demand areas of finance – the OECD says that there will be more than 35 people over 65 for every 100 of working age by 2025.


But equity release is a specialist area, with its own qualifications and permissions and so it is important to partner with an expert. Sentry Lifetime has a team of qualified and experienced equity release professionals and takes extra special care when discussing products with clients, often involving other family members in the process to ensure everyone is comfortable with the products and options.


Sentry Lifetime provides expert advice on lifetime mortgages, which are the most popular form of equity release as the borrower retains ownership of the property. Available to clients over the age of 55, a lifetime mortgage enables an individual to borrow against the equity in their home, without the need to make monthly repayments. Instead, interest is typically ‘rolled up’ and added to the balance, which is usually repaid from the sale of the clients’ home when they die or enter long term care.


The funds can be released as a lump sum or in smaller payments as a drawdown facility to be used as and when they’re required and there is a ‘no negative equity’ guarantee so a client or their estate’s beneficiaries will never be liable to pay anything over the value of their home. A borrower can also opt to include ‘inheritance protection’ with some plans that will guarantee an agreed percentage of their homes’ value to be passed down, irrelevant of how much interest is owed.


If later life lending is not an area in which you already specialise, just pick up the phone and give us a call. Don’t take the risk of dallying with this market – make sure you partner with an expert, so you can have the peace of mind that your clients are getting the right advice, every time.


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