Air Mortgage Club – the distributor for equity release and later life advisers – has today announced the addition of Chorley Building Society to its retirement lending panel.
Members of the Air Mortgage Club will now be able to access Chorley’s range of later life lending products which include two- and five-year discounts up to 80% and 90% LTV, and a specific five-year discounted remortgage product up to 80% LTV.
With no maximum age limit, all products are open to applicants who are either aged 70 on application or will be 70 or over at the end of their mortgage term.
Chorley Building Society accepts business form both AR and DA intermediaries, however advisers must be registered via a network or a club such as Air Mortgage Club in order to submit a decision-in-principle or application to it.
The lender offers a personalised service to all intermediaries, with all mortgage individually underwritten.
Stuart Wilson, Chief Executive Officer at Air Group, commented: “We continue 2020 with our aim to broaden the range of lenders we work with and the number of later life lending products available to our Air Mortgage Club members. By adding Chorley Building Society, and providing access to its products, we are doing just that and it is pleasing to be able to continue adding quality lenders to our panel.
“Our belief is that the later life space will continue to grow and demand for these products, and advice, will move in an upward trajectory. Our members want to be confident they are dealing with a club which covers all parts of the later life market, and we continue to work with our lender and provider partners to ensure their product offerings reach a wide distribution. We’re looking forward to working with the team at Chorley and believe 2020 is likely to be another strong year for later life advice.”
Julie Goodwin, Head of Business Development at Chorley Building Society, said: “We are delighted to be joining the AIR Group lender panel as we feel the club’s philosophy mirrors our own when looking to support older borrower lending needs. Anyone working in the retirement sector will know that the later life journey is drastically changing, with people living longer in retirement than previous generations, understanding how the modern retirement plans look has become a challenging task. With Chorley Building Society’s flexible approach to mortgage lending we support the growing demand of older borrowers with a variety of borrowing options and it is part of our ongoing plan to meet the needs of a changing and ageing population, whatever their individual choices.”