THE RIGHT MORTGAGE LAUNCHES LATER LIFE LENDING ADVISER ACCREDITATION

23 September 2024

The Right Mortgage & Protection Network and its subsidiary, The Later Life Lending Network, has this month launched a new Accreditation Scheme for later life advisers.

Available to individuals active within the network who fulfil the criteria, Later Life Lending Accredited Advisers (LLLAA) are designated as those who offer a holistic approach to their later life borrowers, and are able to review multiple lending areas of the market to provide their clients with a positive outcome.

This means Accredited Advisers will be those that can offer all later life lending options such as: lifetime mortgages, payment term lifetime mortgages, retirement interest-only mortgages, mainstream mortgages for older borrowers and likewise.

Not only are these advisers holistic for their customers, they are also doing so at a high quality standard. To achieve the accreditation the adviser will need to meet a quality metric, as determined by the network, with over 80% file grading throughout their cases.

Maintenance of LLLAA status will take place annually; it will also be determined by the individual’s involvement in the scheme, in later life focused events, and their commitment to development and education in this product space.

The Right Mortgage has accredited the first club of advisers this week. Those who achieve accreditation status, will be showcased in a members’ directory on the adviser site. The Network is also hosting a launch event in partnership with Air Group in a celebratory launch dinner for those awarded the status, taking place on the 1st October.

The Network currently has over 110 advisers within member firms who offer later life lending advice, with a specific proposition focused on a wide range of products and services, and market-leading commissions.

The launch dinner is in association with Air, the platform for later life lending professionals. Earlier this month, TRM sister company, The Right DA Club became an Ambassador of Air which opens up benefits for its later life advice member firms.

As part of its ongoing commitment to later life education and information, TRM is also running Later Life Lending Roadshows for equity release-authorised members or those looking to enter the later life lending advice market next year. There is also a Later Life Lending End of Year Celebration and Gala Dinner being held at the end of 2025.

For further details and to register, advisers should visit the network’s adviser website.

For more information on The Right Mortgage & Protection Network, please visit: www.therightmortgage.co.uk

Victoria Clark is Head of Equity Release at The Right Mortgage & Protection Network, commented:

“We believe individuals who meet the standards required to become a Later Life Lending Accredited Adviser are going to have a real edge in terms of securing new clients and being a destination for referrals from those advisers and firms who currently do not offer advice in this growing sector.

“The LLLAA scheme has been designed to showcase the excellent work of these individuals, to highlight the quality of their advice outcomes, and to show the real depth and breadth of the product offering they have access to, and are recommending.

“As we know, the later life lending market is now far more than just lifetime mortgages, and with new products arriving regularly for this borrower demographic, it is absolutely vital in our Consumer Duty world, that advisers are able to cover all available options.

“The LLLAA scheme, and attaining this status, will therefore be something to highlight to both clients and the wider market, and we are very pleased to be partnered with Air not just to launch this but to ensure advisers have access to everything they need to be successful in this sector.

“We anticipate granting LLLAA status to more and more advisers within the network and are looking forward to engaging with our later life advisers to help them grow their propositions.”

Paul Glynn, CEO of Air, commented:

"Undoubtedly, more and more borrowers are either taking mortgage debt into later life, or have a specific need for loans at a later age, and it’s highly important advisers make the most of this opportunity so they can service this client base with confidence and with excellence.

“Part of the focus for all advisers should be on how they are able to offer the widest range of later life lending product solutions to their clients, because we know there are a growing number of options available.

“We launched our ‘Comprehensive Conversations’ campaign to highlight this very need and as signatories of our manifesto, The Right Mortgage are committing to ensuring advisers within their member firms are working to the highest of standards and committed to ensuring all options are on the table for later life borrowers.

“Air is proud to be working with The Right Mortgage on this adviser accreditation initiative as we believe it will highlight the very best advisers active in this space. We’re also committed to offering all advisers access to a range of tools, services, training and resources which will allow them to meet the same high standards, and would urge established players and those considering their involvement to contact us to see what we have to offer.”

For more information on The Right Mortgage & Protection Network, The Right DA Club, and sister companies The Later Life Lending Network or The Right PMI & Healthcare, please contact: joinus@therightmortgage.co.uk or visit www.therightmortgage.co.uk