Category: Equity release
The society offers alternatives to equity release including a 5-year mortgage for an 89-year-old and a 16-year term for a 70-year-old.
With help of John Malone as an ambassador Age Partnership plans to grow its service and staff count significantly in the year ahead.
The group offers retirement income solutions, care, medically underwritten defined benefit de-risking and equity release markets with a market cap of £1.4bn and assets under management of £16bn.
Malone has worked across lending, insurance, estate agency, broking and distribution over 50 years in the mortgage industry.
With the help of the strong final quarter lending smashed the £2bn barrier by reaching £2.15bn.
The market is expected to grow by a further 28% to £2.75bn in 2017 in what it described as a ‘conservative’ estimate.
Bower discovered that over half (53%) of advisers have seen a rise in their clients to move their current deal to a lower rate.
Scott was previously group financial controller at AA, while earlier in his career he group chief accountant at over 50s-focused company Saga.
Analysis by the English Longitudinal Study of Ageing revealed that as we get older we spend less.
You only have to consider the fact that the over 65s in the UK control around £1.4 trillion of housing wealth to appreciate the potential for the retirement lending market.