Knowledge Bank integrates with Air Later Life Navigator

Mortgage criteria fintech Knowledge Bank has integrated Air’s Later Life Navigator tool into its platform, with the goal of making its support for advisers more comprehensive.

The Later Life Navigator tool was built to assist advisers in discussing affordability with clients.

The integration will help advisers analyse affordability considerations, compare borrowing costs across different mortgage types, and give tailored advice to clients.

The tool covers standard residential mortgages, retirement interest-only (RIO) and lifetime mortgages, with plans to expand to more product variants as they are introduced by lenders.

Nicola Firth, founder and CEO of Knowledge Bank, said: “The Navigator tool puts affordability at the beginning of the advice process for older borrowers to establish the right route before checking criteria and is in keeping with Consumer Duty requirements.

“It will ensure that all types of Later Life Lending products are included in the scope of early discussions with clients by building a detailed picture of their client’s ability to make payments.

“It also allows advisers who aren’t equity release qualified to safely have the initial conversations around the possibilities with their clients and if appropriate, refer the case on.

“This integration underscores our commitment to empowering advisers with the tools and insights they need to navigate the intricacies of the later life lending market effectively.

“By combining Air’s expertise with Knowledge Bank’s industry-leading criteria search system, we aim to streamline the advisory process and elevate the level of support available to advisers and their clients.”

Paul Glynn, CEO of Air, said: “The integration of Air’s Navigator tool into Knowledge Bank signifies a major step forward in advancing the standards of advice and support within the later life lending sector.

“By providing advisers with a comprehensive suite of tools and information within the Knowledge Bank platform, advisers can make well-informed decisions and guide clients through the complexities of later life lending with confidence.

“This partnership sits at the heart of our Comprehensive Conversations movement, which aims to better support the over 50s customer with their complex needs – through the use of technology to aid advice processes and in turn, enable advisers to provide better customer outcomes.”