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Adviser launches mortgage service for over-50s

Adviser launches mortgage service for over-50s

National Friendly Financial Solutions has launched a phone-based mortgage advice service aimed at borrowers over the age of 50.

The service will form part of the company’s phone-based services, which include will-writing, pensions and retirement planning.

The mortgage advice launch comes after parent company National Friendly relaunched the phone-based advice business in May.

Craig Richards, independent financial adviser at National Friendly Financial Solutions, said: “Our new mortgage service aims to meet the specific needs of the over 50s who may be looking to re-mortgage, take out a new home loan, help finance their children on the housing ladder or simply extend their existing mortgage beyond retirement age.

“Historically, lenders only granted a mortgage until the normal retirement age, but increasingly more and more lenders will now offer funding well into a person’s 80s.

"We have found demand for this style of lending is concentrated in the over 50s, a specialist market National Friendly Financial Solutions is very experienced in supporting.”

According to the company, its phone-based service will “fit neatly into a post-coronavirus world, where face-to-face contact is on the decline, yet a personalised, trusted service still very much demanded”.

Consolidator Fairstone also launched a remote advice service this week in response to client demand for virtual meetings in the wake of the coronavirus.

Several advice companies, platforms and providers have told FTAdviser that working practices, which have become commonplace during the coronavirus, are set to become a permanent feature in the financial services industry.

chloe.cheung@ft.com