Chorley Building Society has been added to the retirement lending panel for Air Mortgage Club, which means that its later life mortgages will now be available to those who are signed up to the club.
The slate of retirement mortgages that are offered by Chorley have no upper age limits, with borrowers who are 70 years old when they apply for a loan, or set to be over that age by the time the term of their loan comes to an end, are both able to apply for one. The building society also deals with both directly authorised (DA) and appointed representative (AR) intermediaries, but all mortgage advisors must be signed up to a club or network like the Air Mortgage Club.
Speaking to Mortgage Introducer, Air Group Chief Executive Stuart Wilson stated that part of the company’s strategy for this year was to increase the number of mortgage lenders that it collaborates with, as well as to improve the range of retirement loans available via the club.
He went on to say that those who had signed up to Air Mortgage Club needed to feel that it provided access to a comprehensive range of later life products. Julie Goodwin from the building society said:
“We are delighted to be joining the Air Group lender panel as we feel the club’s philosophy mirrors our own when looking to support older borrower lending needs.”
This will be welcome news for any CeMAP mortgage advisor who works with the Chorley Building Society, as it opens up a new client market.
