Air launches manifesto for later-life lending market


Air said the manifesto will call upon UK mortgage professionals to follow several core tenets

Later-life lending platform Air has introduced a manifesto to establish a new standard of consumer-centred service excellence in the later-lending market.

Air said the manifesto will call upon UK mortgage professionals to follow several core tenets.

Later life advisers who sign the manifesto will pledge not only to meet regulatory requirements but to strive to deliver the highest standards of advice.

Advisers will also be called upon to signpost all options available to customers and to expand advice, product, and servicing offerings, or to establish referral relationships facilitating access for customers to advice propositions or other services that may help them achieve the most suitable outcome based on their needs, preferences, and circumstances.

The manifesto will encourage all advisers to take full advantage of tools and technology to ensure affordability and other factors, like preference, are evaluated in determining the most suitable later life lending products for a customer.

Signatories will also commit to ensuring customers understand the full breadth of non-product related options and will provide the right advice regardless of any remuneration drivers.

The manifesto is further supported by a Later Life Lexicon, which will serve as a crucial guide for companies with clear definitions of all key terms in the market.

Air chief executive Paul Glynn said: As creative new products break into the later life-market, our industry must take decisive action to equip advisers with the right tools to nurture their continual professional development. The Comprehensive Conversations Manifesto, devised by Air and shaped by our partners, is the first step in a cooperation towards improving consumer-focused lending advice, with a stress on affordability and preference. It is our sector’s future, and we are inviting everyone – from the later-life specialist to the mainstream adviser or generalist IFA – to join.

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