more2life forms exclusive partnership with Verified Building Services
The partnership will support advisers and clients when essential property repairs are needed for lifetime mortgage applications.
more2life has formed an exclusive partnership with Verified Building Services to support advisers and clients when essential property repairs are needed for lifetime mortgage applications.
Under the agreement, Verified Building Services will assess, price and manage repairs through approved contractors, with payment made either from loan proceeds at completion or self-funded by the client.
The partnership means more2life will now consider cases where spray foam is present, giving advisers a managed route from referral onwards.
Verified Building Services handles all aspects of the work until more2life valuers sign off and the case continues.
Clients will not need to make upfront payments, and the work will be completed to the valuer’s satisfaction within the quoted price.
Ben Waugh (pictured), managing director at more2life, said: “We’re pleased to announce our latest exclusive commercial partnership, reinforcing our commitment to helping advisers deliver more for their clients.
“Our internal analysis suggests that more than half of the cases we see affected by property condition or spray foam concerns could benefit from this service, creating a potential route forward for more customers and widening access to later life lending.
“Clients thinking they’ve found a way to achieve their financial goals, only to have the case declined, is naturally incredibly disappointing for them, and in partnering with VBS we hope to ensure that as many people as possible get to benefit from the opportunities afforded by modern later life lending products.”
Waugh added: “We’re also pleased to be able to consider properties with spray foam going forward, providing solutions on what has historically been a restrictive criteria point.
“In VBS, we’re pleased to have found a knowledgeable and trusted partner that can support us in delivering our vision.”
Tim Waterlow, managing director at Verified Building Services, said: “We’re pleased to be partnering with more2life, delivering our expertise and project management capabilities to the later life lending space.
“Homes undoubtedly hold a certain sentimental value among over-55s and being able to help applicants to carry out essential works, enabling them to access housing wealth to achieve financial goals without downsizing, is a major win and something we’re proud to stand behind.
“We’re excited for what this partnership will bring and look forward to playing our part in delivering for the UK’s later life borrowers going forward.”
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