Equity Release Club, the distributor for equity release and later life advisers, has today announced that Family Building Society is the latest lender to be added to its panel.
Members of the Club will benefit from Family’s range of mortgages for those in later life including owner-occupier repayment mortgages, available up to a maximum age of 95 at the end of the term, and owner-occupier interest-only and buy-to-let mortgages, which are available up to a maximum age of 89 from when the loan commences.
The Family Building Society also offers a Retirement Lifestyle Booster product for those aged 60 and over, which it says is ideal for those who want to use the equity in their current property to provide regular monthly advances, in addition to an optional initial lump sum.
Last month the Society launched a range of three Retirement Interest-Only (RIO) products allowing borrowers to free up equity in their property with monthly interest payments. However, these products are only available to club members.
Commenting, AIR Group commercial director Gary Little said: “It’s fair to say that the Family Building Society has a wide selection of products which cater for later life borrowers, and with its newly-launched range of RIO mortgages, it is undoubtedly embracing the sector and providing increased choice for both advisers and their older clients.
“Working with a lender like the Family means we can broaden product availability to our members and also continue to educate the wider advisory community about the opportunities that exist in the later life sector, not just around the mortgage but also in terms of all the product needs this demographic of clients have. “
Family Building Society director of business development Keith Barber added: “We are pleased to be working with Air Group, who like us, recognise that older borrowers need a holistic approach to finance and mortgages. Our range of innovative products and highly personal approach to underwriting ensures that these sometimes complex requirements are understood and dealt with on an individual basis.”
Latest News
-
Inflation remains at 3.8% in August
-
UK house price growth slows to 2.8% in July – ONS
-
Third of UK adults relying on inheritance to fund retirement
-
Govt has failed to act on lifetime ISA recommendations – Treasury Committee
-
Becketts acquires Swallow Financial Planning
-
‘Fear of rejection’ biggest barrier for one in three aspiring buyers
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.
In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.
In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.
The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories