Spicerhaart corporate sales last month introduced a solution for lenders whose customers have interest-only loans that are about to mature or have done so with no plan in place. The company started a service to address the same issue for borrowers in April.
Responsible Life is a whole-of-market provider that offers advice and access to a product range comprising retirement interest-only (Rios) mortgages, lifetime mortgages, equity release and conventional mortgages and remortgages.
“Refinance is often the best option for borrowers without the ability to repay their interest-only loan who don’t want to sell. We can now introduce Responsible Life, one of the largest equity release brokers in the market,” said Spicerhaart corporate sales managing director Mark Pilling (pictured).
“Responsible Life audits all the loans offered providing added comfort and a clear audit trail,” Pilling added.
“We are, through this partnership, offering an end-to-end service to support interest-only customers who are struggling to repay their loans,” said Tim Waterlow, development director at Responsible Life.