Knowledge Bank has integrated Air’s later life navigator tool into its platform.
The integration will support advisers working in the later life lending market and allow them to analyse affordability considerations to help, compare borrowing costs across various mortgage types and give the ability for advisers to deliver advice to clients in the later life arena.
The tool covers considerations around standard residential mortgages, retirement interest only and lifetime mortgages with plans for expansion to include new product variants introduced by lenders.
Knowledge chief executive Nicola Firth says: “The navigator tool puts affordability at the beginning of the advice process for older borrowers to establish the right route before checking criteria and is in keeping with Consumer Duty requirements.”
“It will ensure that all types of later life lending products are included in the scope of early discussions with clients by building a detailed picture of their client’s ability to make payments.”
Air chief executive Paul Glynn adds: “The integration of Air’s navigator tool into Knowledge Bank signifies a major step forward in advancing the standards of advice and support within the later life lending sector.”
