Air Group issues Covid-19 operational update

Answers in Retirement Group (Air Group) has released an operational update in relation to the coronavirus crisis, indicating that the group primarily intends to carry on with “business as usual”.

The collective of companies that covers a range of retirement and later life services suggested the financial services had adapted quickly to the “unusual circumstances”, but that many of its members would be concerned about the lifetime mortgage process in the coming weeks.

Air Group is a collective of several companies covering a range of retirement and later life services, which includes Air Later Life Academy, Air Mortgage Club, Air Sourcing, Air Prestige Packaging, and Air Rewards.

The update from the retirement specialist comes after Chancellor, Rishi Sunak, announced a host of emergency measures for the UK last week, including a three-month mortgage payment holiday for those affected by the virus outbreak.

Air Group CEO, Stuart Wilson, said: “At the moment, we are very much carrying on with ‘business as usual’ albeit under these exceptionally unusual circumstances. We are all still finding our feet in this new ‘socially distant’ world, and while it’s a challenge, it’s also remarkable how quickly our industry has been able to adapt.
 
“I’ve talked to a lot of Air Group members in recent days, and I know that as they’ve adjusted their own sales processes to meet the demands of social distancing and isolation, many are concerned about what happens next with regards to crucial aspects of the lifetime mortgage application process – namely valuations and conveyancing.
 
“These processes rely on both the valuer and lawyer meeting a client face-to-face or entering their home; given the most recent control measures announced by the Government, that is now all but impossible, especially for conveyancing which, among other things, requires the mortgage deed signature to be witnessed.”
 
“Air Group has the interests of its members at the top of our list and we’re in daily contact with lenders to get updates on how they and the connected parties to this process intend to navigate through this issue. There are innovative solutions being discussed and we expect to be able to provide members with some good news on this over the course of the next few days.”

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