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Reasons to be cheerful: A breath of fresh air in 2024

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Reasons to be cheerful: A breath of fresh air in 2024

2024 has seen a return to consistency following some of the market upheaval and downturn that evolved through 2022 and 2023.

Already in the first month of the year, we’re seeing the first green shoots of opportunity in the later life lending sector begin to take root. The lower 10-year GILT rates seen towards the end of 2023 have remained consistently low, sitting under 4% and looking to stay there.

This reduction has allowed lenders to begin thinking more positively about the market. Now,we have begun to see this optimism made manifest, in the form of higher Loan to Value rates, ultimately meaning higher release values for customers in the long run.

These better rates and releases have meant that word is beginning to spread, with more people starting to reinvestigate equity release options – with related internet searches already seeing an uptick on the likes of Google.

Perhaps most impressively renewed market appetite has already seen the advent of new financial products being introduced to customers, including L&Gs payment-term lifetime mortgage offering which is enabling customers an 8% greater release of equity from their homes, shoring up later life finances and unlocking more comfortable living.

As a further sign of increased market appetite and interest from advisers, Air Sourcing has also seen an increase in the amount of session registrations, further highlighting that across the market, a trickle-down of optimism is occurring through all levels of the sector.

Air is committed to living and breathing successful outcomes for advisers, lenders and customers. We will be continuing to make improvements to the client offering through our Later Life Lending Navigator tool, which streamlines adviser assessment processes, helping to educate, challenge bias and determine not only which products are the most suitable for clients, but also encouraging more comprehensive conversations to help your customers reach the best possible outcomes.

Make the most of Air’s support in 2024


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