Nottingham BS  

The Nottingham launches RIO mortgage

Simon Little, managing director of Autumn Life Retirement Solutions, had written in a blog post at the start of the year he expected 2019 to be another strong year for later life lending. 

He wrote at the time: "The consumer is looking for solutions to meet a growing list of needs: a better solution than their current mortgage offer (mortgage prisoners), those interest-only borrowers coming to the end of term with their existing lender; those who need/want to release equity to fund retirement, or spend on family members or carry out home improvements.

"The big change will be meeting the needs of Middle Britain, who consider their home as part of their total asset wealth; pensions, savings and property.

"It is this target audience which represents the real opportunities for product providers and advisers alike. It’s where the real growth will come from in the next five to seven years."