TMA Club adds Just to equity release panel

TMA Club has announced it is adding the retirement lending solutions provider Just Group to its equity release panel.

The move will give TMA members immediate access to the lender’s ‘Just For You’ lifetime mortgage product.

Just For You, available to retirees aged 55 and over, allows borrowers to create a solution that satisfies specific needs, as well as the option to take a cash lump sum or release cash from a pre-agreed facility.

The product also allows clients to move onto an interest roll-up option after starting with interest serviced, if they wish.

TMA development director, Lisa Martin, said: “Adding Just to our equity release panel will provide TMA members with even more options to serve this fast-growing market. During Q3 alone, almost £11m of property wealth was unlocked each day by homeowners aged 55 and over.

“We have seen the lifestyle options and priorities of both over 55s and retirees change over recent years. Advisers are therefore increasingly hearing from a growing number of older borrowers looking to make the most of the equity tied up in their homes.

“We will continue to enhance the TMA proposition to make sure our members are equipped with a variety of solutions to support the growing numbers of later life borrowers, whether these be standard mortgages, RIOs or equity release products.”

Just is the fifth addition to TMA’s lifetime mortgage panel as the Club continues to grow its later life lending proposition. Other lenders added to TMA’s panel include Hodge Lifetime, OneFamily, more2life and LV=.

Just communications director, Stephen Lowe, commented: “Since the product’s launch earlier this year, it has been enthusiastically received for its range of options, unique features and high-quality support.

“This is a major growth area as people turn to the wealth in their properties to better meet their lifestyle aspirations in retirement and to support other family members.

“We look forward to working closely with TMA and the Club’s adviser community to provide innovative lending solutions that will help more homeowners make the most of their property assets through their retirement years.”

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