31 August 2022: Standard Life Home Finance has increased access to its products by entering into strategic later life partnership with Sesame Bankhall Group (SBG).
Under this agreement, Sesame’s adviser network and PMS Mortgage Club’s directly authorised brokers can register on Standard Life Home Finance’s online portal to gain access to its entire suite of Defaqto 5 Star rated products.
These products include a variety of LTVs, as well as both drawdown and lump sum options. There are also other market-leading features such as:
- Fixed Early Repayment Charges (ERCs) under 10 years (typically 10-15 years across the sector*)
- Unrestricted ERC exemption on sale of property following death/admission into care for first borrower (usually restricted to 3 years from event*)
- Downsizing protection from day 1 (typically only applies after 5 years*)
- Inheritance protection automatically included (usually an added option and/or extra cost*)
Kay Westgarth, Head of Sales at Standard Life Home Finance said: “Increasingly we are seeing more people interested in releasing equity from their home as part of their retirement plan. By providing access to a range of products, tools and support services, we know we can help more people to make the best choices for their individual circumstances.
“The role of the adviser is a vital one during this process, so strong relationships with adviser networks, brokers and support services are an important way we can help customers on this journey. Given this, it’s exciting to work with Sesame Bankhall Group as they firmly believe in helping advisers to not only better serve customers but also improve their own skills and understanding of the market. This ethos is very close to our own and we are pleased to be working closely with them.
Stephanie Charman, Strategic Relationships Director at Sesame Bankhall Group, commented: “With the later life lending market going from strength to strength, we are delighted to sign a strategic agreement with Standard Life Home Finance. Sesame Bankhall Group is focused on providing its members with market-leading support, better access to products and more options to support their customers. This new partnership is another important step in helping us to deliver on this ambition and we look forward to working with the Standard Life Home Finance team.”
Notes to Editors
* = These are typical terms across providers within the later life lending market and included for comparison.
For more information, please contact:
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About Standard Life Home Finance
- The Key Group uses Standard Life Home Finance (www.standardlifehomefinance.co.uk) under license from Phoenix Group, the UK's largest long-term savings and retirement business.
- Pioneers in the equity release market, Key Group is on a mission to be the UK’s leading retirement finance expert, operating in the later life lending market and focused on helping people finance a better retirement. Celebrating its 22th anniversary in 2021, the Group has helped customers release more than £5 billion worth of equity from their properties.
- Evolving to meet the financial needs of the increasing over-50s market, brands within the Group umbrella include two of the UK’s leading equity release advisers (Key Later Life Finance and The Equity Release Experts), one of the largest equity release lenders (more2life), and leading later life service provider (Air Group).
- At the heart of Key Group is the commitment to use technology to improve/support advice quality, collaborate to build smart later life lending products, make expert financial advice accessible to all people on the retirement journey, encourage product/service innovation and be a leading voice for over-50s on retirement finance matters.
- The Group is proud to be one of the largest private employers in Preston with over 600 colleagues based across the UK and its brands have garnered more than 100 industry and consumer awards since launch.
Sesame Bankhall Group (SBG) brings together Sesame Network, PMS Mortgage Club and Bankhall, reaching 11,000 professional financial advisers.
- Sesame is one of the UK’s leading appointed representative (AR) networks.
- PMS operates one of the UK’s largest mortgage clubs for mortgage brokers who are directly regulated by the FCA.
- Bankhall is a market-leading support services business for firms that are directly regulated by the FCA.
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