Signatories to Air’s manifesto include Aviva, Stonebridge and The Right Mortgage and Protection Network (TRMN). 

Signatories will promote Air’s customer service recommendations, called ‘Safer Tracks’, to their broker membership. These recommendations aim to support advisers and their clients in dealing with the complexities of the mortgage market, changing regulations, evolving products, affordability challenges and income analysis. 

The main aim of the Comprehensive Conversations Campaign is to raise awareness of the changing demographics of later life borrowers, many of whom will carry mortgage debt into retirement. 

Air said these borrowers were more likely to purchase a property later in life than traditional equity release customers and would therefore need continued support to manage debt on a fixed retirement income. 

 

Sponsored

Market Moves: Understanding UK Housing Trends

Introducing the first in our video series “Market Moves: Understanding UK Housing Trends” The

Sponsored by Halifax Intermediaries

Comprehensive Conversations building momentum 

Paul Glynn (pictured), CEO at Air, said: “In a short time, the Comprehensive Conversations Campaign has taken huge strides, and our momentum is still building. Today’s milestone has a special resonance. Let there be no doubt: mortgage networks are the central nervous system of our industry. If a piece of information is worth knowing, then it should circulate into the wider market through these organisations. 

“The market is splitting into two core demographics: the traditional equity release customer, and the new generation of homeowners who may depend more highly on later-life products to manage their mortgage repayments into retirement and need greater support navigating the right options for their specific needs. Networks, lenders, and brokers alike must work in lockstep to ensure that our market can accommodate the increasingly diverse profiles of later life lenders and meet each lender with tailored advice and expert guidance at each point of the process.” 

Gavin Earnshaw, operations director at Stonebridge, added: “Brokers are working tirelessly to guide customers through a complex market, but it’s vital that firms stay up to date on regulatory changes.”

Earnshaw said Stonebridge felt a responsibility to “lead by example” as a major network.   

He said: “The Comprehensive Conversation movement will galvanise lenders, brokers, and networks alike to continually educate themselves on their sector; this will enhance the customer service experience and deliver better outcomes. We are proud to be a signatory of Air’s Comprehensive Conversations manifesto, which has set a new benchmark for outstanding customer service in a rapidly changing industry.” 

Victoria Clark, head of equity release at TRMN, added: “The later life lending market is evolving, and networks cannot step away from the challenge. Networks must collaborate to ensure brokers can access the most effective sourcing and tech tools, while complying with Consumer Duty on every step of the way.  

“The Comprehensive Conversations manifesto and Safer Tracks have laid down the groundwork; now is the time for us to build a better industry, together.” 

The full manifesto can be viewed and signed here.