The client is free to repay their lifetime mortgage in full at any point without incurring an ERC.

Members can now become Later Life Lending Accredited Advisers.

The guides will cover topics including estimating property values, help with legal process requirements, and lending criteria.

Rates have reduced across lifetime mortgage, standard capital & interest, standard interest-only and RIO products.

42% of all homes bought by buyers under 55 years old received support from the ‘Bank of Family’.

Nearly three out of five over-55s homeowners with mortgages are making major sacrifices to pay off loans by retirement including not saving into their pension.

The service will be available to advisers who want to refer later life business.

The average over-55 owner-occupied household in the UK has £321,213 of equity in their home. 

Royal London acquired Responsible Life and Responsible Lending at the end of January.

The Council hopes that the guidance will help move the conversation on green home finance forward.