A couple of new lifetime products are now available to advisers affiliated with Air Sourcing
Responsible Lending, the exclusive distributor of the Royal London Equity Release product range, has announced the launch of two new lifetime mortgage products, now available to all third-party advisers via the Air Sourcing platform.
The Principal and Efficiency Plus options come with a 10-year early repayment charge framework, allowing homeowners the flexibility to make partial repayments, with the potential to return up to 10% of the initial cash advance annually.
Moreover, the Efficiency Plus product offers a lowered interest rate for properties with an energy performance certificate (EPC) rating of ‘A’ to ‘D’. These products are targeted at homeowners aged 55 to 89, with property values ranging from £125,000 to £2 million.
The introduction of the Principal and Efficiency Plus plans marks Responsible Lending’s first product launch following the acquisition by Royal London.
“We are delighted to have partnered exclusively with Air Sourcing to roll out the Principal and Efficiency Plus products to the wider broker community and their customers,” said Chris Flowers (pictured), intermediary sales director at Responsible Lending. “Expanding the Royal London range will ensure advisers have access to a diverse array of products, enabling them to tailor solutions more precisely to meet the unique needs of their clients.
“Equity release remains an important later life finance option, and we are confident these products will meet the needs of homeowners across the UK, providing greater flexibility when unlocking their property wealth.”
Mike Taylor, managing director at Air Sourcing, also underscored the importance of providing advisers with a diverse range of products tailored to the specific needs and lifestyles of their clients.
“We’re thrilled to be working exclusively with Responsible Lending to launch two new Royal London Equity Release products to Air Sourcing members, and to bring a wider offering to customers,” he said.
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