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More2life:
Autumn has been busier than ever for more2life which announced it now has £5bn worth of loans under management – no inconsiderate feat when considering the firm launched in 2008. The firm also focused on working hard to educate consumers and advisers as to the benefits of later life lending products unveiling research into how Covid-19 impacted adviser businesses and the positive steps they have taken to overcome this. With the entire industry impacted by the stamp duty land tax holiday which came to an end in September, more2life shone a light on the use of equity release not only for gifting but also for house purchase – a small but growing area. Finally, the team won Best Later Life Lender at the Scottish Mortgage Awards for the second year in a row and Best Equity Release Service as the Moneyfacts Investment Life and Pensions Awards, an excellent achievement for all involved.
Key Group:
Key Group has had a busy summer and early autumn with the announcement of a strategic partnership with Standard Life, part of Phoenix Group, to launch a range of lifetime mortgage products branded Standard Life Home Finance. This is great news for the sector and sees another well-known brand committed to offering customers a range of innovative products. At Key Group, we actively encourage colleagues to not only take their annual charity day but also support the wider community through initiatives that we run internally. It was also great to be able to raise £5,000 for the Alzheimer’s Society when 15 people from across the business scaled Langdale Pikes in the Lake District to support this incredible charity.
Key
As the world returns to more normal trading conditions, our advice teams have been busy supporting customers with face-to-face as well as telephone and Zoom consultations. While as a business Key remains committed to the benefits and personal touch that face-to-face advice brings, we have found that options such as Zoom allow people to involve geographically disparate family more easily. Key was also very proud to have won Best Financial Adviser (medium to large firm) at the MoneyAge awards – fighting off competition from not only the later life lending sector but also the wider financial services industry. Mike Hardy – a familiar face across the industry and a well-respected member of The Equity Release Experts team – also won Best Later Life Broker at the British Mortgage Awards which is a real testament to his hard work and resilience.
Air Club
Air Club issued the results of the first Later Life Lending Census. The Census – of over 400 advisers – sought to gather the views of a wide range of stakeholders to understand what changes need to be made to make the later life lending market more accessible for both advisers and consumers alike. The results highlighted three key areas where change might be required: rebrand, re-educate and re-engage. While many advisers in the industry are more likely to use the term ‘later life lending’, there is still a significant focus on equity release being the single product solution available. Continuing to provide a greater level of support for advisers, Air Club have continued to grow their ‘Criteria Clinic’ webinars giving advisers a forum to gain a deeper understanding of lenders’ criteria. This, in conjunction with the continuing expansion of the On Air has seen over 15 leading lenders and service providers giving their insight and providing informative webinars to the platform.
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The views of contributors are not necessarily shared by the Equity Release Council.
