The Right Mortgage & Protection Network and its subsidiary, The Later Life Lending Network, has launched a new accreditation scheme for later life advisers.

The later life lending accredited advisers (LLLAA) are available to individuals active within the network who fulfil the criteria.

These advisers are designated as those who offer a holistic approach to their later life borrowers and are able to review multiple lending areas of the market to provide their clients with a positive outcome.

This means that accredited advisers will be those that can offer all later life lending options such as lifetime mortgages, payment term lifetime mortgages, retirement interest-only mortgages, mainstream mortgages for older borrowers and likewise.

To achieve the accreditation, the advisers will need to meet a quality metric, as determined by the network, with over 80% file grading throughout their cases.

Maintenance of LLLAA status will take place annually. It will also be determined by the individual’s involvement in the scheme, in later life focused events, and their commitments to development and education in this product space.

Head of equity release at The Right Mortgage & Protection Network, Victoria Clark, said: "We believe individuals who meet the standards required to become a Later Life Lending Accredited Adviser are going to have a real edge in terms of securing new clients and being a destination for referrals from those advisers and firms who currently do not offer advice in this growing sector.

"The LLLAA scheme has been designed to showcase the excellent work of these individuals, to highlight the quality of their advice outcomes, and to show the real depth and breadth of the product offering they have access to and are recommending."

The Right Mortgage has accredited the first club of advisers this week, and those who achieve accreditation status will be showcased in a members’ directory on the adviser site.

The network currently has over 110 advisers within member firms who offer later life lending advice, with a specific proposition focused on a range of products and services.

Clark added: "As we know, the later life lending market is now far more than just lifetime mortgages, and with new products arriving regularly for this borrower demographic, it is absolutely vital in our Consumer Duty world, that advisers are able to cover all available options.

"The LLLAA scheme, and attaining this status, will therefore be something to highlight to both clients and the wider market, and we are very pleased to be partnered with Air not just to launch this but to ensure advisers have access to everything they need to be successful in this sector.

"We anticipate granting LLLAA status to more and more advisers within the network and are looking forward to engaging with our later life advisers to help them grow their propositions."

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