The specialist lender has distribution links with over 700 advisory firms including 1,700 registered introducers, and revolving warehouse facilities for loans totaling almost £40m.
The lender will now operate as a full service provider in the retirement market by administering as well as funding, lifetime mortgages, home reversion plans and other retirement mortgages.
The compliance department has also been reinforced by the appointment of Rajiv Agarwal, with over 30 years of experience, as compliance director and his addition to the Board, alongside founding shareholders and executive directors Peter Turley and Peter Lucas.
Peter Lucas, chief executive of Newlife, said: “The scope of Newlife’s products has grown significantly since 2003 to help consumers facing a wider range of circumstances as they approach and enter retirement. We have also seen plenty of changes in the wider financial services industry and we are delighted to welcome Rajiv onto the board to help steer the next phase of our development.”
In June 2011, the company rebranded to NewLife and launched its first home reversion products, followed by other specialist products the 65+Mortgage in October 2012.
Simon Chalk, technical Manager, equity release, Age Partnership, said: “New Life is demonstrating its commitment to the equity release sector, which is to be applauded. Extending the full service from origination to completion will help deliver a higher quality proposition to specialist advisers.”
