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Mansfield Building Society teams up with AIR Sourcing and Equity Release Club

by: Edward Murray
  • 21/08/2017
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Mansfield Building Society teams up with AIR Sourcing and Equity Release Club
Mansfield Building Society’s later life mortgages will now be available on AIR Sourcing and for distribution by the Equity Release Club.

AIR Sourcing is a sourcing system that specialises in equity release and retirement lending products. Equity Release Club is a specialist distributor for equity release and later life advisers.

The Mansfield offers residential mortgages up to age 85, providing loans to those in or nearing retirement.

In addition to its appetite for lending to individuals later in life, the lender also offers a broker exclusive, interest-only product which allows property downsizing as a repayment strategy, for borrowers up to age 80. This is a two-year discount rate product currently available at 2.94% with a maximum LTV of 40%.

Stuart Wilson (pictured), group managing director at Answers in Retirement, commented: “We are continually looking to add quality lenders to our overall offering and are therefore very pleased to announce this new relationship with the Mansfield Building Society. The Mansfield has been at the forefront of finding mortgage product solutions for those needing finance in later life for a number of years, and its products will I’m sure prove popular with both our advisers and their clients.”

Steve Walton, national development manager at the Mansfield Building Society, said: “We’re thrilled to be on the Air Sourcing platform and delighted to be working with the Equity Release Club. It’s great to see the Answers in Retirement Group combining our common sense approach with their range of solutions promoting later life financial options. We want to ensure that brokers not only benefit from our product range but also our flexible and pragmatic approach to lending.”

AIR Sourcing, the Equity Release Club, and the Later Life Academy (LLA) – the commercial and training organisation for later life advisers – are all part of the Answers in Retirement Group. AIR Sourcing was launched in May 2016.

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