TMA Club has launched a new partnership with Standard Life Home Finance, bringing its range of later-life lending products to the TMA panel.
TMA Club’s directly authorised brokers can now register on Standard Life Home Finance’s online portal to gain access to their entire range of Defaqto 5 Star rated products, which offer a variety of LTVs, including both drawdown and lump sum options.
Example highlights of the partnership for TMA brokers include:
- Fixed Early Repayment Charges under 10 years – usually 10-15 years
- Unrestricted ERC exemption on death/admission into Loan to Cost of first borrower – usually restricted to 3 years from event
- Downsizing protection from day 1 – usually only applies after five years
- Inheritance protection automatically included – usually an added option and/or extra cost
TMA brokers will also benefit from a range of support and online services, including a range of tools and calculators, such as Portfolio Analyser tools, and Salary Exchange and Pension Carry forward calculators, to help later-life advisers transform retirement outcomes.
Lisa Martin, development director at TMA, said: “This partnership reflects TMA Club’s continued commitment to providing our brokers with the best possible resources to advise borrowers and build a more efficient market.
“Given that the later-life lending market is predicted to double in the next decade, it’s more important than ever that brokers have the necessary capabilities to ensure clients can make well-informed decisions to secure their financial future. We’re confident that Standard Life Home Finance’s innovative panel of products will enable our brokers to do so.”
Kay Westgarth, head of sales at Standard Life Home Finance, added: “Amidst an uptick in demand for mortgages from over-55s, we’re pleased to partner with TMA Club and provide services that will allow customers to receive the highest quality advice on complex financial commitments.
“Brokers will need to arm themselves with the knowledge to help borrowers access equity, as the trend for later-life lending products is surely set to continue.”