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Discretionary spending, rebroking and product flexibility to shape 2022 later life market

  • 06/12/2021
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Discretionary spending, rebroking and product flexibility to shape 2022 later life market
A poll of the later life lending market confirmed a just over a fifth expect to see more customers entering the market to boost discretionary spending, 20 per cent expect to see more borrowers looking to rebroke deals and 15 per cent believe lenders will make their product terms and conditions more flexible.


A poll of over 100 lifetime brokers at the Air Group conference in November revealed 13 per cent expect to see more innovative products next year, 11 per cent of those believe networks and large advice firms will become more active in the sector and just eight per cent expect the equity release market to pass the £5bn lending mark.

Attendees were asked to prioritise those key themes for next year with 58 per cent seeing a huge need for customer re-education, while 30 per cent thought an industry rebrand might serve the market better.

Overall, 12 per cent would like more focus on re-engagement with the wider adviser community.

Air Group includes a later life lending club, a training academy for lifetime advisers, Air Later Life Academy and Air Sourcing.

Taking part in a series of online poll questions during the recent Air Group conference, the event focused on key themes to emerge from an adviser census including a wider later life lending focus for the industry, re-engagement with advisers and consumers and extensive re-education on available products.

Stuart Wilson, CEO at Air Group, said: “It’s clear from these poll results that advisers want to see the industry continue to re-educate all stakeholders about what is now achievable with later life lending products and how they can make a real difference to the lives of older property owners.

“Of course, we understand that the Equity Release Council in particular has focused on education around these specific products for decades, and it’s important we build on that work and broaden out its scope because there are a growing range of options beyond equity release, and that is likely to improve in the months and years ahead.

Air Group also announced details of its 2022 Annual Conference which will be taking place on 16 June at the National Space Centre in Leicester.

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