Lifetime mortgage advances fell by 40% in 2023.

Lifetime mortgage advances fell by 40% in 2023.
Many will buy their partner out using savings, but some are turning to lifetime mortgages to stay in their homes.
60% believe there is a lack of choice and mortgage products tailored to them.
more2life has committed to a 48-hour turnaround as part of the new service.
The new rules extend protection to mandatory payment lifetime mortgages and all advice conversations must now cover income and expenditure.
The later life lender recently appointed Les Pick as director of intermediary sales.
Jess Rushton, head of business development at Smart Money People, discusses how getting the later life proposition right can benefit the whole residential property market from empty...
The introduction follows the recent API integration with Legal & General Home Finance.
Existing customers can now access further advances up to the age of 90.
A new navigator tool will outline growing range of solutions for later life customers, helping advisers triage customers effectively.
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