"Later life lending is becoming an ever more important part of the mortgage market and it’s a sector where advice is critical to better customer outcomes."
Legal & General Home Finance has become the first lender focused purely on the later life market to join the Intermediary Mortgage Lenders Association (IMLA).
L&G Home Finance launched into the lifetime mortgage market in 2015 and has since grown to become the sector’s largest provider of equity release products.
Kate Davies, executive director of IMLA, said: “We are delighted to welcome Legal & General Home Finance as a member of IMLA. Later life lending is becoming an ever more important part of the mortgage market and it’s a sector where advice is critical to better customer outcomes. We are seeing more intermediaries recognising the opportunities of lifetime mortgages, Retirement Interest-Only and other later life lending products to help their clients in later life.
“Legal & General has been a leader in innovation and change in the equity release market over the last few years and we look forward to working closely as they contribute to the Association."
Marie Catch, head of mortgage broker sales at Legal & General Home Finance, added: “The demand for mortgage advice throughout all life stages is changing. With it comes greater opportunity for brokers to develop their business mix and extend their reach as residential clients begin to need later life advice too. We look forward to bringing a new voice and perspective to the industry debate, helping shape the future growth of the intermediary mortgage market, especially in the later life arena.”