The Mortgage Mum launches later-life lending division

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We are excited to announce that we are launching a Later Life Lending division.

The Mortgage Mum Later Life Lending team has been set up to bring our core values and a Mortgage Mum touch to another sector within the mortgage and financial industry.  As an all-woman brokerage we pride ourselves on adding that extra care and compassion sometimes lacking within this sector.

Our aim is to break down some of the existing barriers and educate people on the benefits of Later Life Lending and Equity Release, which still has the stigma and lack of knowledge, from before the industry became regulated by the FCA in 2012.

Our team will take time to discuss in depth any advantages or potential disadvantages, and what benefits of releasing equity can bring to homeowners or their family.

We will sit down (face to face or virtually), fully get to know you and your needs, discuss what is available and how we can help improve lives by releasing equity tied up in homes across the country.  Our job is to hold your hand, advise and educate you every step of the way, liaising with family members where possible to offer transparency and reassurance.

Equity Release allows homeowners aged 55 and over to release equity built up in their property as a tax-free lump sum, which can be either their home where they live, or another property they own, for example a Buy to Let property or Holiday Home, to spend as they wish.

Depending on the type of Equity Release product best suited to your circumstances, you can choose to take the money as one lump sum or over a series of smaller amounts, and there are many factors which you would need to consider carefully to decide on how much money you are going to draw down at any one time.

The benefit of releasing money from your property with Equity Release, is the money does not need to be repaid until you move out of the property into permanent care or die.

Our founder, Sarah Tucker, says:

“It’s an area of the market we always intended on branching into. We think the female touch will work really well in this space, with an extra layer of “Mortgage Mum education” wrapped around it. We intend on using the same model we’ve used to grow our main Mortgage Mum brand, and to really focus on the value we can offer. There is still so much that consumers don’t understand about equity release and later life lending, and there are existing barriers that need to be broken down.”

We feel passionate about overcoming some of the obstacles found in this industry by creating a safe, inclusive space that involves the wider family too; and we’ll be providing a complete trail to avoid any future disputes. We’re working closely with a few private client solicitors based in London to really ensure we service these clients in the best way, and to learn from their success. The service needs to encompass extra empathy, care, and compassion; with a personal touch that still needs that human element to it, and although historically we’ve worked online to service our mortgage & protection clients, we have needed to create a different client journey for this area of the market. With that in mind, we needed to find a way to service the whole of the UK in a way that felt right to the customer, and with our team being so much larger now, we have been able to create the perfect team who have the ability to service all areas with a face to face presence between them, as well as an online one. The current cost of living crisis could mean there will be more households needing to access their equity to cope.

Krystle Ward, Natalie Hall, Sue Hems and Manjit Kaur are the new Mortgage Mum Later Life Lending team. Please contact them directly on our Meet The Team page.

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