Later Life launched

A new arm of Bondholder Mortgage Advice Bureau, MAB Later Life, has been announced after an exclusive strategic alliance with Key Group has been agreed.

The new alliance enables MAB to enter a specialist and growing market with a leading proposition both to advisers and customers.

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Formed over 21 years ago, Key Group has helped the over-55s release more than £5 billion of equity from their properties by taking a holistic view of their personal circumstances to achieve the best outcomes for them. Key Group will provide its market leading infrastructure and regulatory umbrella to MAB Later Life.

MAB Later Life comprises a selection of lenders, including more2Life (Key Group’s lifetime mortgage lender), as well as a comprehensive range of products provided by Legal & General Home Finance and LV=. All lenders are members of the Equity Release Council (“ERC”) and all products meet the ERC’s standards.

The first phase of the strategic alliance, which is already underway, involved the distribution of later life mortgage products through a small pilot group of existing specialist MAB advisers, all working under the MAB Later Life brand. MAB is now extending this new opportunity to firms currently outside of the Group that are looking for a best in class proposition to capitalise on their specialism in this sector.

Commenting on the new launch, Ben Thompson, MAB’s Deputy CEO, said:

“Broadening our addressable market to include products for the over 55s is an important part of our strategy, and a logical extension to our proposition. This exclusive strategic alliance provides MAB brokers with a greater range of products to enable them to compete at the highest level. Specialist advice is a key differentiator for intermediaries, and Later Life represents a clear opportunity for them to service new customers and extend their relationships with existing ones.”