With the Consumer Duty deadline less than three months away, Air has taken the initiative to provide a Later Life Library for its Air Sourcing members.
The digital library collates product factsheets for all equity release, retirement interest only mortgages (RIOs), and later life mortgages available on the market.
The Consumer Duty deadline for providers was the end of April and as part of their commitment to the new principal, lenders were required to create and publish product factsheets for each of their plans.
With consumer outcomes at the forefront of mind, Air has developed an area where all this information is in one place so that firm principals don’t have to trawl through individual websites and portals.
Additional information will be added over the coming months boosting the resources available including a roadmap to meeting Consumer Duty regulation for firm principals.
Advisers with access to Air Souring can find the document library after logging on by clicking on ‘Resources’ and then the new ‘Consumer Duty’ tab.
Paul Glynn, CEO at Air, said: “At Air, we are constantly looking for ways to help advisers through innovation and the use of technology.
“As part of our commitment to supporting advisers, especially through the implementation of Consumer Duty, we have created an area on our Air Sourcing platform, which is dedicated to providing information and product factsheets, direct from the lenders.”
He added: “Helping firm principals operate more effectively while building robust businesses that deliver good customer outcomes is one of the cornerstones of the Air platform.
“To achieve this, we are constantly striving to find new and innovative ways to further support advisers operating in the later life lending sector including events such as the National Later Life Lending Adviser Conference in June.”
“As part of this, we will be discussing how to navigate the road to better customer outcomes, including features on Consumer Duty and evolving client needs, advisers are able to book their place at the event via the Air platform.”
