Related topic: Later Life

The lender has expanded its Flexi Fix range with the new product.

‘Mandatory signposting of all later life lending options can help stave off the retirement crisis’, Harris argues.

The Society has expanded its Credit Plus offering and reduced residential, buy-to-let and later life rates.

Homeownership is happening later in life, with over-50s now one of the fastest-growing first-time buyer groups.

Those rolling off older mortgage deals could see monthly repayments jump by around £866.

The support programme brings together specialist partners to equip financial advisers ahead of April 2027.

"We want to see advice that supports informed, confident decision-making across all available options", Aladhal said.

3.7 million homeowner households aged 55-79 will have retirement income below the moderate living standard.

LiveMore is reducing the initial period of assessment for CCJs and credit defaults from three years to 18 months.

The OBR has previously estimated that it is lower earners who will reduce their contributions by the most.