"73% of those asked wanted guidance on underwriting criteria, while 60% needed support in marketing their business to the later life market."
Hodge Lifetime has launched a new campaign to help advisers do business in the later life lending market.
In January, Hodge surveyed advisers to find out what they’d like to see from the lender in 2019 and support in building and promoting their business was a top priority.
In response, Hodge is launching the Helping Hand campaign which will deliver tools to help advisers grow their later life business and understand more about the products on offer.
Over the coming months Hodge will launch a series of guides, videos and infographics alongside a new underwriting guide.
Business development director, Tony Hall, said: “Hodge has always prided itself on putting advisers at the heart of everything it does which, is why they can expect to receive a personal and tailored service each time they do business with us.
“But that’s not enough, we want to make the whole process as simple and streamlined as possible and that’s what our Helping Hand campaign is all about. Our survey showed 73% of those asked wanted guidance on underwriting criteria, while 60% needed support in marketing their business to the later life market. It’s clear we need to be doing all we can to make life easier for advisers.”
Head of customer propositions and experience, Laura Reid added: “The introduction of retirement interest-only mortgages in 2018 signalled a big shift in the later life lending market and one which requires lenders to step up and help advisers decipher which product suits their customer best.
“Historically Hodge has led the way in creating products to suit older borrowers, but where we’ve led others have followed, so we now have a situation where there are more options available but not enough education about which product suits who.”