Category: Equity release
The lifetime mortgage will enable homeowners in England and Wales over the age of 65 to release up to 58% of the value of their property.
He joins Responsible Lending as an executive director after a long career in financial services, including the position of head of sales and operations at AXA Sun Life. More recently, he has run a boutique financial services distribution consultancy.
Stuart Wilson, managing partner at Later Life Academy, has praised the growing number of retirement-interest only lenders who will only accept RIO business from mortgage brokers who have an equity release qualification.
More 2 life said this allows customers to book appointments at their convience, speeding up the process by up to two hours.
Hall was previously head of sales at conveyancing rival GWlegal.
The company estimated that one in 34 (2.9%) of the 82,791 equity release customers in 2018 used the money to help first-time buyers secure a home.
The insurance giant has also added a different way of identifying LTV levels with colours that reflect how no two retirements are the same.
Knowledge Bank has the largest database of mortgage lending criteria held anywhere in the UK. Its criteria activity tracker found brokers searched for lenders who would allow debt or income issues, unsatisfied county court judgements, ongoing debt management plans, adverse credit repair or borrowers on benefits with no earned income.
Marsden Building Society has partnered with The Right Equity Release to launch a lifetime mortgage service to complement its later lending products.
The team is now structured around four core functions: sales, operations, product management and business development. Naismith, Wain and Porter will all report to Peter Julier, director of later life services at Key.