The Association of Mortgage Intermediaries (AMI), Building Societies Association (BSA), Equity Release Council (ERC), UK Finance and The Investing and Saving Alliance (TISA) have published a new leaflet with information on all the relevant product and advice solutions currently offered by the Later Life Lending industry.
In an increasingly complex environment consumers need better information about their options to help ensure they make the right choices for them.
This leaflet will help ensure that consumers receive consistent messages from all the main sectors of the industry for the first time in a clear and easy-to-use format.
This should make it easier for consumers to find the most suitable Later Life Lending products and advice and more clearly understand what their next steps are.
Each trade body will promote this information through their physical and digital channels. Their ambition is that this a step towards more collaboration across the industry for the benefit of consumers.
Will Hale, CEO at the UK’s largest equity release adviser Key, said: “The later life lending industry is growing and taking its rightful position in the range of lending options for homeowners.
“However, it can be difficult for customers to fully understand all of their options at the start of their journey which is why this new guide is so valuable.
“At Key, we are considering what role this guide might play as part of our customer engagement process and how it can support our ambition to support a wide range of customer needs.
“With five of the most influential trade bodies in this market banding together to create this insightful piece of work, this is a huge step forward for the industry and hopefully a sign of more collaboration in the future.”
Link to guide – https://www.equityreleasecouncil.com/wp-content/uploads/2021/11/Later-Life-Lending-Leaflet-October-2021-FINAL.pdf
