11 WINTER MORTGAGE NEWSLETTER until retirement (or age 75), securing the loan-to-value today at their anticipated retirement age. • Pure Retirement's Freedom Lifetime mortgage plans allow penalty-free annual payments of up to 20% or 40% have also made a welcome return. However, there is always room for more... • Applying early repayment charges only to the capital released and not any unpaid interest, as already practised by some lenders, would be a welcome introduction. • Also, considering the Equity Release Council's product standards, funds are released at a fixed rate (or capped if variable), so how about a Lifetime mortgage with a variable or tracker rate and a cap, including the option to fix for life at will? • Lastly, some clients have expressed frustration when trying to make voluntary payments. This underscores the need for a more consumer-friendly approach, aligned with the principles of the Consumer Duty. Your Trusted Partner in Later Life Mortgages Should you have clients seeking Later Life mortgage solutions or advice, we welcome the opportunity to extend our partnership. We provide a unique service that doesn’t just focus on the short-term. Our advisers offer independent, impartial and transparent advice for long-term flexibility. We have whole-ofmarket access and a competitive Lifetime Advice fee. Giving you the trust that we will provide your clients with a service you'll both confidently recommend. For discussions on Retirement Interest-Only (RIO) or equity release options, you can reach Stephen directly at 07503 615000 or via email at [email protected]. We look forward to building a partnership with you and delivering tailored financial solutions to your clients.
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