Standard Life Home Finance has joined the Mortgage Advice Bureau (MAB) later life lender panel.
This will provide its later life advisers with access to a wider range of market-leading products.
MAB established its later life panel in 2020 in partnership with Key Group.
Other members include Canada Life, more2life and Legal & General Home Finance who provide the later life advisers within their network with access to a number of plans designed to meet different customer needs.
Ben Thompson, MAB’s deputy CEO, said: “Having launched MAB Later Life in 2020, we are well positioned to service the increasing numbers of customers who are considering how they manage their borrowing into retirement.
“Standard Life Home Finance is a well-respected name in the later life sector, and having the brand join our panel will add some fantastic expertise and new innovative products to the comprehensive range already available to our advisers.”
As the equity release market in the UK heads towards £6bn in lending in 2022, this partnership between Standard Life Home Finance and the Mortgage Advice Bureau aims to further develop the market for lenders, advisers and over-55 borrowers.
Kay Westgarth, head of sales at Standard Life Home Finance, added: “We are delighted to be joining Mortgage Advice Bureau Later Life’s lending panel, alongside other well recognised brands in this sector.
“Using housing equity to support retirement income or help loved ones is becoming increasingly common and we are pleased to be working with the MAB team to support later life advisers and their clients.
“All our products include downsizing and inheritance protection as standard and are Defaqto five star rated and will provide later life advisers with a variety of options for their clients to choose from.”
