Mortgage Advice Bureau (MAB) is the UK’s most recognised mortgage broker brand. The service our advisers deliver has earnt us over 150 industry and consumer awards as well as a Feefo rating of 4.9 out of 5 (from over 5,000 reviews). Our success is also proven in our exceptional business growth with an average of 20% year on year growth for over the last nine years.
We recognise the importance of customer choice and as a result our proposition is the only one of its kind that can offer advice face to face, by telephone and online on a national scale. We offer full postcode coverage across the UK with over 1,350 advisers including five dedicated telephone hubs.
The wealth and later life lending proposition is headed up by Steve Humphries – Proposition Director, Wealth. With over 20 years’ experience in the wealth and later life lending markets, Steve has helped MAB build a comprehensive later life lending proposition to add to the already strong mortgage, protection and GI model.
MAB has added later life lending to its already successful model to assist in dealing with customers wishing to restructure their finances in retirement. By partnering with Tenet and launching the MAB Wealth Management proposition in May 2018, MAB has already engaged with over 1,000 customers trying to get help in this area. Now with 21 advisers within MAB Wealth Management, these are strategically positioned advisers as Later Life Lending Specialists rather than Equity Release Advisers. This sector is constantly evolving and we continue to invest in our advisers ensuring they are qualified and trained in all aspects of the market rather than just equity release.
Our equity release strategy is to ensure that all customers are given the correct advice when discussing equity release. This means not just looking at Lifetime Mortgages and Home Reversion Plans, but also considering Retirement Interest Only Mortgages as an option also. MAB have also partnered our Later Life Lending Specialists alongside Wealth Advisers to ensure that a customer’s other assets (investments and pensions etc) are considered appropriately before recommending a later life product. We have found that we can sometimes save a client money by utilising other areas of their wealth instead of taking money out of their property.
We insist that all later life lending customers are seen face to face. This ensures the customers get the very highest level of service and attention. We also recommend to customers that during the sales process the adviser meets with their close family so as to ensure all interested parties are aware of the steps the customers are about to take. For customers preferring the Lifetime Mortgage option we also ensure they are fully aware of the drawdown facility available to them instead of taking a lump sum at outset. To ensure a consistent customer journey and outcomes all later life lending cases are pre-sale checked.
Product innovation is making later life lending more prominent and with mainstream lenders adapting their criteria and increasing lending ages there are many more options available to customers than ever before.