London Rebuilding Society launches new equity release product with more2life

Not-for-profit enterprise, London Rebuilding Society, has announced that it has partnered up with more2life to launch a new home improvement equity release product to assist over-55 homeowners who need to carry out much-needed repairs and improvements or have been unable to get finance to afford the cost of the works.

Related topics:  Finance News,  equity release
Warren Lewis
27th June 2022
old oap retire retirement later life couple equity release adviser advice intermediary

With just under 2.5 million owner-occupied homes failing to meet the Decent Homes Standard, the Healthy Homes, Healthy Lives scheme from London Rebuilding Society, designed and provided by more2life, is designed to support those who are living in these poor conditions and enable them to live in their own homes and communities for longer, both healthier and happier.

The plan has two elements, the first of which sees the team at London Rebuilding Society working with the homeowner to plan what works are required and then complete and oversee all the home improvements. Secondly, the more2life equity release plan will provide the funds to enable this to happen.

As part of the pilot, whole of market advice will initially be provided by The Equity Release Experts to assess the suitability of Equity Release and this product for the homeowners in the London, Brighton and the South Coast.

Advisers who wish to refer clients should speak to Key Partnerships or their existing The Equity Release Experts contact for further information.

Dave Harris, CEO, more2life comments: “While it is shocking that more than one in ten homeowners live in homes that fail to meet the Decent Home Standards, it is particularly hard for older people who may have mobility or health issues. By teaming up with London Rebuilding Society to bring this product to market, we can support more homeowners as they improve their homes and ultimately their standard of living.

“The Healthy Homes, Healthy Lives programme is further evidence of the good that equity release can do in communities as well as for individual homeowners. At more2life, we are committed to continuing to provide this type of innovation which supports customers and the advisers who look after them.”

Naomi Kingsley, Chief Executive at London Rebuilding Society, adds: “Too often we see older homeowners who through a range of circumstances find themselves living in properties which are in poor condition. Often too proud to ask for support or unaware of what is on offer, this impacts their physical, financial and mental health.

“The Healthy Homes, Healthy Lives programme will help to tackle this problem by providing not just the funding but the project management support to ensure this benefits the end customer. We are delighted to be working with more2life to make this a reality and look forward to growing the scheme following a successful pilot.”

More like this
Subscribe
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.