Whilst 2023 has thrown its fair share of challenges at brokers, I feel really excited to be involved in the later life sector and really keen to get started in 2024.
This comes from the innovation we have seen over the last year, which of particular note is More2life with their Apex range and its generous LTVs and super short redemption period.
Others worth applauding are LiveMore and their menu of products in one place and recently Legal and General’s Payment Term Lifetime Mortgage.
These are all giant leaps in the right direction of helping to align later life products with traditional mortgages.
I hope to see lots more of this type of ingenuity as we move into a higher gear with Consumer Duty in mind.
Momentum is key for product evolution so with any luck we are only seeing a hint of what is to come.
Simon Bridgland is broker/director at Release Freedom
