Royal London has partnered with Responsible Lending to offer an exclusive range of lifetime mortgages, available to all equity release advisers.
Royal London’s range offers a standard and premier product:
- The Standard product is available to customers between 55 and 84 years and six months, with a minimum property value of £125,000 and a maximum value of £2m
- The Premier product covers the same age range, but is better suited to customers with a high-value property above £2m, with no maximum limit
Both products offer the option to pay up to 10% of the total cash advance within each 12-month period.
The firms say a distribution team of three business development managers and three telephone business development managers have been recruited to support brokers and their clients through the process.
The range is available for advisers across the lifetime mortgage market, and can be accessed through Air Sourcing and Advise Wise platforms.
Royal London customer life stage director Colin Mitchell says: “As people’s needs change, we are seeing equity release playing an increasingly important role in retirement planning and the advice conversation, with more clients considering using their property wealth to protect their standard of living in retirement.”
Responsible Lending intermediary sales director Chris Flowers adds “Over the past nine months we have seen rising interest rates, but we have also seen that the need and demand for customers to work with trusted brands has never been greater.
“With the new distribution team in place, we are in an excellent position to help advisers navigate the often complex equity release market.”
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