Legal & General Mortgage Club has announced the launch of a Later Life Lending Hub.
It is a new tool which offers its members a holistic service to customers who are progressing through the later life mortgage journey.
Over a third of new mortgages are now extending beyond the borrower’s 65th birthday.
The Later Life Lending Hub caters for advisers in the retirement lending sector, providing them with the latest market news including references to mainstream and lifetime lending, equity release and latest in product innovation. The hub will also contain educational support that advisers can access, benefiting both them and their customers.
The hub panel currently offers adviser referrals to Key Retirement, Age Partnership, Bower Retirement and Responsible Life. It has now added four new lenders to its direct offering: Legal & General Home Finance, Hodge Lifetime, Pure Retirement and More2Life and said it plans to add more lenders soon.
Jeremy Duncombe (pictured), director of Legal & General Mortgage Club, said: “The launch of this hub is an exciting new development for Legal & General, and one that both advisers and customers will benefit from. Many people are now entering the mortgage market later, and as a result a number of mainstream lenders have adapted their Later Life criteria and maximum lending ages.
“This hub aims to help these borrowers navigate what can seem like a complicated process when it comes to managing their financing, and therefore enable them to consider later life lending as a viable option.”
