Mansfield BS to launch later life range through Air Sourcing

The Mansfield’s later life offer will now be added to the sourcing system with the Equity Release Club chosen as one of its distributors.

The Mansfield offers residential mortgages up to age 85, providing loans to those in or approaching retirement. The lender also offers a broker exclusive, interest-only product which allows property downsizing as a repayment strategy, for borrowers up to age 80. This is a two-year discount rate currently available at 2.94% with a maximum LTV of 40%.

AIR Sourcing, the Equity Release Club, and the Later Life Academy are all part of the Answers in Retirement Group.

AIR Sourcing was launched in May 2016 and is available to registered advisers free of charge, offering products with enhanced terms for members of the Equity Release Club and Later Life Academy.

Stuart Wilson, Group Managing Director at Answers in Retirement Ltd, commented: “We are continually looking to add quality lenders to our overall offering and are therefore very pleased to announce this new relationship with the Mansfield Building Society. The Mansfield has been at the forefront of finding mortgage product solutions for those needing finance in later life for a number of years, and its products will I’m sure prove popular with both our advisers and their clients.

"It’s our aim to develop the range of product solutions available via AIR Sourcing, and through the Equity Release Club, in order to support the growing demand we are seeing from later life borrowers. This is one sector of the market which appears to be going from strength to strength, and it is lenders such as The Mansfield who continue to deliver the required solutions. We are looking forward to working with the team in order to develop their offer within the Answers in Retirement Group of companies.”

Steve Walton, National Development Manager at the Mansfield Building Society, said: “We’re thrilled to be on the Air Sourcing platform and delighted to be working with the Equity Release Club. It’s great to see the Answers in Retirement Group combining our common sense approach with their range of solutions promoting later life financial options. We want to ensure that brokers not only benefit from our product range but also our flexible and pragmatic approach to lending.”