Responsible Lending, the sole provider of the Royal London Equity Release products, has announced the launch of two new Lifetime Mortgage products, extending its offering exclusively through the Air Sourcing platform to all third-party advisers.
The new additions, named the Principal and Efficiency Plus, augment the existing Royal London Equity Release product suite. Advisers who are members of Air Sourcing can now easily generate Key Facts Illustrations for the entire range with just one click.
Both products incorporate a 10-year period for Early Repayment Charges and allow partial repayments. Homeowners can repay up to 10% of the total amount advanced each year without incurring additional charges. Moreover, the Efficiency Plus product offers a lower interest rate for homes with an EPC rating between A-D, providing an incentive for energy efficiency.
These products are accessible to homeowners aged 55 to just before their 90th birthday and cater to properties valued between £125,000 and £2m.
The launch is aligned with Royal London’s commitment to customer service, competitive pricing, and adaptable underwriting. With in-house referrals, these products also promise versatile underwriting processes.
Responsible Lending’s intermediary sales director, Chris Flowers, said: “We are delighted to have partnered exclusively with Air Sourcing to roll out the Principal and Efficiency Plus products to the wider broker community and their customers. Equity release remains an important later-life finance option, and we are confident these products will meet the needs of homeowners across the UK, providing greater flexibility when unlocking their property wealth.”
Mike Taylor, Managing Director at the later life lending platform Air, added: “We’re thrilled to be working exclusively with Responsible Lending to launch two new Royal London Equity Release products to Air Sourcing members, and to bring a wider offering to customers.
“It is more important than ever that advisers have access to the right products suitable for individual needs and lifestyles, to achieve even greater success in delivering exceptional outcomes for their clients. At Air, we work closely with our Ambassador partners to ensure our members are equipped to have comprehensive conversations, with product choice at the heart of their client discussions.”
