Saga, the provider of products and services for people over 50, has partnered with digital mortgage broker, Tembo, to launch Saga Mortgages.

Tembo is a digital mortgage platform, specialising in maximising affordability. The new service is designed especially for homeowning customers who are either:

•        Looking to help or support a family member get on the property ladder – through income/deposit boost mortgages (which could include helping a child or grandchild buy their first home)
•        Interested in remortgaging
•        Seeking alternatives to later life lending

The Saga Mortgages launch is part of Saga’s strategic objective to become the ‘superbrand’ for older people in the UK, offering a range of curated products and services for those over 50.

The service will include:

•        A digital mortgage fact finder page for Saga customers to complete
•        Live mortgage pricing and affordability for all available mortgage products, including repayment, interest-only, buy-to-let, holiday let and family assist mortgages from over 110 different lenders.
•        An eligibility check across 100 different lenders to identify the best way to boost customer’s budgets.
•        Personalised plans to show maximum borrowing repayments.
•        A secure account where customers will be able to save their details, edit plans, book appointments, track progress, upload documents and explore other  relevant adjacent Saga products, such as Buildings & Contents Insurance and Wills etc.

The entire journey will be supported by Tembo’s team of mortgage specialists, which will include the provision of personalised market advice on appropriate mortgages. These individuals will be on hand via telephone and video contact services, allowing Saga customers to speak to a member of the team seven days a week during operating hours.

Each customer will also have their own case manager assigned to them from the beginning, who will guide the customer through to completion, including making contact every three working days in the time between mortgage submission and completion. Saga Mortgages will also liaise with the lender, solicitor and sellers, acting as a coordinator on behalf of the customer.

Alex Edmans, head of financial services at Saga Money, said: “We are very excited to be partnering with Tembo to launch the innovative Saga Mortgages service. Our research shows that many of our customers are looking for a service that specialises in supporting over-50s through the mortgage journey, particularly those who are seeking family-boost mortgages, remortgages, or equity release alternatives.

“With this in mind, we have created a service which simplifies this process, providing a personalised range of mortgage options, underpinned by a team of experts, to provide advice and support seven days a week.”

Richard Dana, founder and CEO at Tembo, added: “Saga is a beloved brand for millions of over 50s who trust them to provide best-in-class experiences and products. At Tembo we specialise in finding mortgage solutions, often when our customers felt there wasn’t a route forward. Together, we have the opportunity to transform the digital mortgage offering for over 50’s.

“Through the Saga Mortgages platform, users can do everything from remortgaging their own home to understanding how they could help their loved ones get on the property ladder with the Bank of Family. We’re delighted to have the opportunity to help Saga customers with their home financing.

“Alongside our digital platform, we have an amazing team of family and later life mortgage experts at the end of the phone. We’re really looking forward to getting started.”