Later life lending platform Air has launched a new suitability report designed to strengthen advice processes and improve customer outcomes, following feedback from advisers and in anticipation of potential regulatory changes from the FCA’s recent Future of the Mortgage Market Discussion Paper.
The FCA paper asked how effective and holistic later life lending advice is and how rules might support borrowers to access more effective information.
Air’s new report is intended to align with this focus by making recommendations clearer for customers and easier to use.
The Suitability Report builds on Air’s LIBF-accredited FactFind Learning Programme, developed in partnership with the Equity Release Council, and is designed to work alongside the FactFind process.
It supports Consumer Duty responsibilities by breaking advice into shorter, more digestible sections written in accessible language.
Air, which has over 10,000 members, said the report aims to reduce misunderstanding, improve transparency, and help clients – particularly those in vulnerable circumstances – make informed decisions.
Features include more personalisation, improved presentation of key information, and full integration with Air’s Writeroute system to save advisers time, ensure consistency, and support robust record-keeping.
Ben Halhead, director of innovation at Air, said: “The new Suitability Report marks a major step forward in later life lending advice delivering a stronger process for advisers designed for advisers.
“At Air we are focused on ensuring later life lending advisers provide consumer-focused, comprehensive advice that considers all available options and the suitability report helps deliver that in line with the FCA’s discussion paper.
“By breaking advice into shorter focused documents, clients can more easily digest important information leading to more informed conversations and greater confidence in the advice provided.
“Clarity and reassurance are paramount to fulfilling the expectations of Consumer Duty and will be central to expected changes to the mortgage market regulatory framework.”
