Later this month, Hodge Bank will launch a series of webinars aimed at brokers and independent financial advisers (IFAs) who are currently operating in or looking to expand into the later-life market.
The first webinar, on 23 April, will look at how the market has evolved over recent years, including a deep dive into the drivers for change and the opportunities for brokers.
The webinars will be held over four weeks, and will include topics such as equity release, retirement interest only (RIO) mortgages, and identifying the ideal customer for later-life lending.
Matt Burton, managing director of mortgages at Hodge, said: “We realise that this is a period of real uncertainty for everyone, so we are using this time to support our broker and IFA networks and provide the tools they need in these unchartered territories.
“We have been in contact with a number of brokers who have been asking for guidance and training when it comes to later life lending products.
“Hodge has a long history in this market and we know it well – we were first to market with both equity release and RIO mortgages so we are hoping that, by sharing our experience in this area, brokers will have more confidence when discussing their customers’ requirements.
“Particularly for those who don’t usually deal with this market, we want them to know Hodge will do all it can to help them understand the products available and how they can help those customers.
“The later-life lending market is evolving continuously, as people live longer and pensions get smaller.
“People need to make the right decisions about their finances, particularly at economically difficult times such as we are experiencing now.
“We believe that later life plans need to be created in a bespoke way for people’s individual circumstances at different stages of their lives.
“Self-isolation offers us all a time to take stock, examine where we are financially and personally and where we’d like to be.
“We believe these webinars will help brokers guide their customers through these strange times and difficult questions.”