Together has become a member of the Equity Release Council as the specialist lender looks to play a greater role in the developing later life lending market.
The lender, which provides first charge, second charge and bridging finance, offers lending solutions to customers aged 55 and over and will contribute its experience to the Council’s work across the sector.
The move comes as later life borrowing increasingly extends beyond traditional equity release products, with lenders and advisers considering a wider range of options for older borrowers with differing financial and property needs.
Rachel East (pictured), group head of strategy at Together, said: “Joining the Equity Release Council is about broadening the conversation around later life lending.
“As customer needs become more complex, the industry has a responsibility to think beyond traditional boundaries and work together to deliver better outcomes.
“Council membership reflects our commitment to helping shape that future, championing innovation, raising standards and ensuring customers benefit from more holistic thinking across the later life landscape.
“We believe more lenders should play an active role in supporting that mission.”
John Barker, chief executive, personal finance at Together, said: “The organisations that will define the future of later life lending are those prepared to help shape the market, not simply operate within it.
“Joining the Equity Release Council is an important step in our strategic journey, providing an opportunity to collaborate with industry leaders, contribute fresh perspectives and support the continued evolution of the later life sector.
“Through partnership, innovation and a shared commitment to better customer outcomes, we can help drive meaningful progress across the market.”
Jim Boyd, chief executive of the Equity Release Council, added: “We’re delighted to welcome Together to the Equity Release Council. Their experience in specialist lending will bring a valuable perspective to our membership as the later life lending market continues to broaden, and we look forward to working with the team to support its continued development.”
Kelly Melville-Kelly, deputy chief executive and director of risk, policy & compliance at the Council, said: “The later life lending market is becoming increasingly diverse, and it is important that our membership reflects the breadth of solutions and expertise available to customers as their needs evolve.
“Together brings considerable experience of specialist property lending and a valuable perspective to our membership.
“Later life lending is increasingly about looking across traditional product boundaries and ensuring customers can understand and access the solutions that are right for their individual circumstances.
“By bringing different parts of the market together, we can continue to raise standards, build greater understanding of the options available and support good outcomes for customers throughout later life.”
