PMS Mortgage Club and Sesame Network are helping advisers in the Retirement Interest Only (RIO) market, with the launch of a new Later Life Lending Hub.
The hub will update advisers on the latest lender developments in the emerging RIO market, including a quick reference guide with an overview of the key information advisers need to know, along with access to a panel of later life and equity release lenders.
This is the first phase and there are plans to expand the new service and develop the hub further, giving advisory firms more support in this market.
The hub also provides advisers with access to PMS and Sesame’s panel of equity release referral partners.
Jane Benjamin, director of mortgages at Sesame and PMS, said: “Following last year’s change in FCA guidance, we’ve seen the RIO market grow rapidly. With new lender products coming to market on a regular basis, it’s difficult for busy advisers to keep up to speed with all the changes.
“Our new hub will keep advisers informed and is part of a wider programme from PMS and Sesame encompassing online and face-to-face training and education support. We want to help advisers look after their clients in a later life market that’s evolving all the time, and is set for further significant growth in the years ahead.”
Stephanie Charman (pictured), specialist lending relationship manager at Sesame and PMS, added: “The majority of property wealth in the UK is held by the older generation. We also have an equity release market that has seen record levels of lending, so it’s clear that we’re dealing with a UK population that will increasingly need and benefit from professional advice.
“Our new hub builds on our existing later life lending support, including our specialist lending panel and equity release referral service, which has proved to be very popular with advisers.”