Positive Lending has entered the market for home loans for over 55s, adding to the range of products it works across.  

The specialist packager says its later life products “are designed to help current, and soon-to-be, retirees to make the most of their finances”.  

It has joined the Equity Release Council and adheres to the body’s code of conduct.  

The firm says the maximum loan-to-value of the products it offers is 60%, with rates starting at 7%, with no lender fees and free valuations. 

It adds that some of the features of its range of products are that all credit history scenarios are considered, and that a full investigation into a customer’s financial circumstances, requirements and alternatives to equity release is carried out.  

Its range of products carry a no negative equity guarantee, and the firm adds that it will only recommend lenders that are members of the Equity Release Council.  

The business has also appointed Alex Hamilton as its new later life lending manager, who had previously worked for the firm for six years.   

Positive Lending chief executive Paul McGonigle says: “We have always performed well in sectors where we provide advice to clients, and have robust sales processes and technology to ensure that we continue to create a culture of customer first, sale second.   

“The later life lending market has matured significantly and will continue to do so as clients life expectancy increases but borrowing needs remain. We have entered into this market cautiously and tested our processes, and now feel we are ready to support intermediaries in a market where they may not be able to provide the advice directly.”  

The firm also works across a range of products that include bridging loans, specialist residential and buy-to-let mortgages and development finance.