New retirement lending sourcing tool goes live

The system covers both the benefits and protections afforded by Equity Release Council-approved products, but also features products for older borrowers from across the entire lending market, which AIR claims is a sourcing system first.

AIR Sourcing allows users to filter products to a final shortlist, taking account of not only interest rates but also incentives such as cash backs and fee incentives.  

AIR Sourcing will offer products with enhanced terms for members of the Equity Release Club and Later Life Academy.

Ray McCarthy, Marketing & Distribution Director at Answers in Retirement Ltd, commented: “It is very pleasing to be able to announce that the AIR Sourcing system is now fully functional and advisers are able to both register and start using the software immediately. We believe this is a significant moment for both the equity release and the lending to older borrower sectors because we are offering advisers the ability to source products from across these areas and to ensure they can deliver the right advice and recommendations based on their client’s wants and needs, plus the much more stringent affordability requirements they will have to go through.

“Our focus is now on ensuring advisers are supported and trained to be aware of the ever growing range of suitable products that lenders and providers are bringing to market, plus (perhaps more importantly) the consumer choices and protections offered by these different set of products. To that end, we are offering advisers access to the Equity Release Club Development events which will open up access and support to a broader range of advisers."