Air Academy, the later-life lending learning platform, has introduced a new affordability module.
The module has full accreditation from The London Institute of Banking & Finance (LIBF) and will roll out to Air Academy members this month.
Air Academy’s existing vulnerability module has also gained LIBF accreditation. These two new modules bring Air Academy’s total module offering up to 10.
The new affordability module is designed to ensure financial advisers can navigate the evolving later-life lending landscape with confidence, highlighting to brokers the importance of affordability when discussing product options in the later-life lending market.
The module will cover a diverse range of topics, including a historical overview of the evolving factors that impact later-life lending, such as the lasting effects of the Autumn 2022 Mini-Budget, rising interest rates, and reduced LTVs.
Other topics will include an extensive look at the product landscape, specifically focusing on permissions for later-life mortgages and a deep overview of regulatory changes. This will feature information on Consumer Duty, the FCA review, and the ongoing importance of personalised advice and evidencing customer understanding of the later-life products they are being advised on.
Dan Holden (pictured), head of Air Academy Learning Programme, said: “Following the FCA’s review of the later life lending sector in September last year, our industry must take decisive action to equip advisers with the right tools to nurture their continual professional development. Our latest Affordability Module will offer Air Academy members an extensive walkthrough of the evolving regulatory landscape, giving advisers the confidence to write business with authority.
“In continually expanding our educational offering, we will help advisers keep pace with their regulatory obligations whilst setting a standard in what qualifies as excellence in our industry. Customers should always have access to the most diverse range of product options available. As Air Academy approaches its tenth anniversary, we remain committed to offering industry-leading accredited modules to help advisers deliver a comprehensive and personalised service to their clients.”
John Somerville, director of financial services at the London Institute of Banking and Finance, added: “Continuous learning is essential for later life advisers to get the right outcomes for consumers and the best possible protection. We have accredited the Air Academy for over four years now because their programme is relevant, well-structured and well-managed. Later life planning has become increasingly complex, so it’s fantastic to see these latest modules being added to this already industry-leading offering.”