You are here: Home - News -

Royal London launches lifetime mortgages through Air Sourcing

  • 19/03/2024
  • 0
Royal London launches lifetime mortgages through Air Sourcing
Royal London Equity Release has released two lifetime mortgage products available exclusively through the Air Sourcing platform.

The product from Royal London is available to all third-party advisers who are members of Air Sourcing. 

The Principal and Efficiency Plus products both have 10-year early repayment charges (ERCs), and partial repayments can be made up to 10 per cent of the total cash advance each year. 

On the Efficiency Plus product, homeowners with a property that has an EPC rating of between A and D can access a reduced interest rate. 

The products are open to homeowners aged from 55 up to the day before their 90th birthday, and the minimum property value allowed is £125,000, while the maximum is £2m. 

Borrowers can also access in-house referrals, which the company said would enable flexible underwriting on either product. 

These are the first two products launched by Responsible Lending since its parent company Responsible Group was acquired by Royal London earlier this year. 

Chris Flowers (pictured), intermediary sales director at Responsible Lending, said: “We are delighted to have partnered exclusively with Air Sourcing to roll out the Principal and Efficiency Plus products to the wider broker community and their customers. 

“Expanding the Royal London range will ensure advisers have access to a diverse array of products, enabling them to tailor solutions more precisely to meet the unique needs of their clients.

“Equity release remains an important later life finance option, and we are confident these products will meet the needs of homeowners across the UK, providing greater flexibility when unlocking their property wealth.” 

Mike Taylor, managing director at Air Sourcing, added: “We’re thrilled to be working exclusively with Responsible Lending to launch two new Royal London Equity Release products to Air Sourcing members, and to bring a wider offering to customers. 

“It is more important than ever that advisers have access to the right products suitable for individual needs and lifestyles, to achieve even greater success in delivering exceptional outcomes for their clients.” 

There are 0 Comment(s)

You may also be interested in