Later Life Lending: Building the Fourth Retirement Pillar

FCA retail banking director urges industry to support push for later life lending

The FCA’s director of retail banking has called for the industry to ‘step forward’ in promoting later life lending to support retirement planning. Speaking at the Later Life Lending Summit yesterday (16 June), Emad Aladhal said there is an increasing generational and social need to provide greater funding in retirement, and later life lending has the potential to become the fourth pillar in retirement, alongside the state pension, workplace pens…

Later life lending: building the fourth retirement pillar

Highlights Later life lending has the potential to become the fourth pillar in retirement, but there is work to do to deliver on that ambition. To deepen consumer trust and deliver good outcomes, a joined-up approach across product design, advice, and support is needed. The FCA will support a better-functioning market, but industry must take the lead. By Emad Aladhal Introduction In the years ahead, housing wealth will become an increasing part…

FCA calls on later life lending market to 'step forward' to fill retirement funding gap

The post FCA calls on later life lending market to ‘step forward’ to fill retirement funding gap appeared first on Mortgage Solutions.

FCA later life lending focus should be on addressing advice silos

FCA proposals to improve access to later life lending products for older borrowers are ‘positive’ and ‘pragmatic’, but the potential changes to Retirement Interest Only (RIO) mortgages could increase the risk of foreseeable harm and put further emphasis on the importance of holistic advice, Key Equity Release, the UK’s leading equity release adviser, says. CP28/18, which is open to consultation until July 28th, sets out plans for removing the su…