Later life lending specialist Air has announced a partnership with Linear as it launches into equity release lending.
Linear Financial Solutions – part of Primis Mortgage Network – will provide an equity release referral desk to support more brokers and offer a wider range of services and products.
Air will be supporting Linear with training for equity release advisers.
Will Hale (pictured), CEO of Air, said: “Linear’s commitment to the highest standards of service and good customer outcomes makes them an ideal referral partner for firms across the Primis Network. A growing number of mortgage advisers recognise the need to consider all later life lending options for all customers over the age of 55. We will support Linear as they grow their business and provide advisers with opportunities for growth too, in what is an expanding later life lending market.
“The sector represents a massive opportunity for advisers and is set to grow exponentially in the years ahead, making it an essential part of mainstream mortgage adviser businesses as they look to invest in and develop what they can offer to customers.”
Hale continued: “At Air, our goal is to equip advisers with the insight and tools they need to establish productive referral relationships where appropriate and to deliver confident, client-centred advice in a fast-moving environment.”
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chief executive of the Equity Release Council, said: “This is a clear sign of how later life lending is becoming a more established part of mainstream mortgage advice. As more customers approach retirement with existing mortgage debt and wealth across both pensions and property, advisers need to take a more holistic approach and ensure all options are considered – including modern lifetime mortgages.”
Matt Surridge, director at Linear Financial Solutions, said: “Offering customers choice is a priority for our business. We are seeing strong demand from older borrowers to consider all their options when remortgaging and Air’s support has been crucial for us in developing our equity release referral desk, as we relaunch into a market [that] requires specialist advice.
“Older borrowers often have specific needs that may not be best served by traditional mortgage solutions. It’s vital that all mainstream mortgage advisers engage proactively with customers over 55 to offer specific later life lending advice; the message is clear – advise or refer but don’t ignore.”