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Responsible Lending teams up with Royal London for equity release launch

  • 06/07/2023
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Responsible Lending teams up with Royal London for equity release launch
Later life mortgage lender Responsible Lending has partnered with mutual life, pensions and investment provider Royal London to launch a range of lifetime mortgages.

The exclusive range is available to all equity release advisers, instead of Responsible Lending’s products only being offered to advisers who work at the Responsible Life brokerage. 

Responsible Lending has been working with Royal London on the products which aim to offer competitive pricing, flexible underwriting and good customer service. 

The range includes a standard product for borrowers aged between 55 and 84 years and six months, with a minimum property value of £125,000 and a maximum of £2m. 

The premier product is open to people of the same age range and is suited to people who have properties with a value of at least £2m. There is no maximum property value limit in this range. 

The option to pay up to 10 per cent of the loan every year is available on both products. The range is available through the Air Sourcing and Advise Wise platforms. 

Responsible Lending has recruited three business development managers (BDMs) and three telephone BDMs alongside the launch to assist brokers. 

Chris Flowers (pictured), intermediary sales director at Responsible Lending, said: “Since Responsible Lending was founded in 2017, we have held customers’ needs at the heart of what we do so we are excited and proud to be launching the Royal London Equity Release product range. 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.  

“The Royal London Equity Release products are competitive and offer a compelling proposition. With the new distribution team in place, we are in an excellent position to help advisers navigate the often complex equity release market.”  

Colin Mitchell, customer life stage director at Royal London, added: “We’re absolutely delighted to be launching these new products in partnership with Responsible Lending, leveraging their considerable market expertise, giving advisers a broader choice and the ability to deliver even better outcomes for their clients. 

“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. It’s essential that advisers and their clients not only have access to the products that meet their evolving needs but can work with providers they trust.” 

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