Networks must collaborate so brokers of all product types can access modern sourcing tools and more effective training programmes.
This will help ensure mainstream mortgage advisers have the confidence and the knowledge to discuss the various options available to a client, whether they be mainstream mortgages or later-life lending options.
Networks can also help encourage brokers to have conversations with clients about later-life options earlier, so they do not get to retirement without a proper financial plan in place.
With more emphasis being placed on good customer outcomes, there is no sense in avoiding the conversation if the person needs a product that is outside a broker’s typical scope.
Final words
The later-life lending market is transforming. It cannot be ignored.
Networks, lenders and brokers alike must work in lockstep to ensure our market can accommodate the diverse needs of the customers who need later-life lending support the most.
It is time for us to consider a person’s financial needs as a continuum of lifetime lending and remove silos from our industry.
Paul Glynn is chief executive of later-life lending platform Air
