Do you have clients who own their own home or are looking to purchase a property? Or perhaps they are looking to improve their current lifestyle or help support their family? If you do, our Later Life Lending Service could help your clients.
The Royal London Later Life Lending Service is provided by later life lending specialists, Responsible Life. They provide holistic advice on several later life lending options including equity release with a Lifetime Mortgage, or borrowing with Retirement Interest-Only Mortgages (RIOs) and traditional mortgages.
They’ll work with you and your clients, guiding them through the entire decision making process. They encourage you to be part of the process and have a dedicated online portal where you can track cases as well as access valuable marketing support.
The benefits to you and your advice:
Later life lending can be used for most legal reasons including purchasing a main home, a second home, or a buy-to-let property. It can also be used to re-finance a property, whether that will be to pay off current debts, reduce monthly payments or support pension income.
Lifestyle requirements are often also supported by later life lending, such as home improvements, holidays, large purchases, care costs, family needs or inheritance tax planning.
Later life lending can be split into 3 main products:
Equity Release - Lifetime Mortgage
Retirement Interest-Only Mortgage (RIO)
The Royal London Later Life Lending Service is provided by Responsible Life Limited. The Royal London Mutual Insurance Society Limited has a 30% shareholding in Responsible Life and Responsible Lending (Responsible Group) and are part of the same group under FCA disclosure rules.
Responsible Life Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (https://register.fca.org.uk/) under reference 610205. All advice is regulated by the Financial Conduct Authority and covered by the Financial Services Compensation Scheme. Registered in England and Wales number 7162252. Registered office: Mills Bakery, Royal William Yard, Plymouth, PL1 3GE.
Only if your customer chooses to proceed and their case completes will Responsible Life Limited charge a fee, currently not exceeding £1,690. An adviser will talk through the costs of setting up a mortgage before they make any decision to proceed.
Royal London Marketing Limited is authorised and regulated by the Financial Conduct Authority and introduces Royal London's customers to other insurance companies. The firm is on the Financial Services Register, registration number 302391. Registered in England and Wales company number 4414137. Registered office: 55 Gracechurch Street, London, EC3V 0RL. The Royal London Group registered VAT number is 368 5244 27.