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Extending lending: retirement borrowing in the UK conference

Date:

1 March 2017

Time: 9:30am – 4:20pm
Venue: Hotel Indigo Birmingham
Price: £385 (VAT exempt) members
£385 (VAT exempt) associates
£505 (VAT exempt) non-members
Extending lending: retirement borrowing in the UK conference

About this event

The challenges surrounding lending to older people remain in the mortgage spotlight. This one-day conference looked at these in detail, alongside exploring the profile of these borrowers and their corresponding real-life needs.

The CML has commissioned research into older borrowers 'The advice framework for older mortgage customers: an assessment'. The aim of this research is to explore how the advice process could be strengthened for households taking out mortgages extending beyond expected retirement or taken out post-retirement.

The findings of this report were presented at the conference along with many topical issues on retirement borrowing in the UK.

Info-graphic of advice for older borrowers

Takeaways from the event:

  • The need for lending into retirement solutions is going to grow.
  • The regulatory lens is very focused on the retired customer segment including: FCA, PRA, FOS and others.
  • The major change taking place in the pension environment is driven by Pension Freedom reforms; and many people are expected to face retirement income shortfall in the future.
  • The home, as a source of wealth, will be considered by many as a solution to the issue of income shortfall in retirement.
  • There is a need for ‘joined-up’ thinking from the government, the lending industry and the building industry to tackle the challenge of creating adequate property solutions for seniors.

Topics covered in the event included:

  • The needs of older borrowers
  • Product suitability and availability
  • Providing appropriate services
  • CML older borrower research
  • Interpreting regulation
  • House building and supply

Feedback from attendees:

"Very interesting event & lots of food for thought around the complexity of the challenges we face in delivering good outcomes for customers facing later life. Thanks to the panel of presenters for their insight."

"Very beneficial and well prepared and informative day."

"Highly relevant content and very thought provoking on the challenges the industry faces."

"A very good day with a lot of relevant information shared. Lots to think about."

"An excellent event a lot of good content. Clearly more work to be achieved in this sector."

This event was aimed at:

Anyone working in the responsible lending space, including compliance, risk, business development, policy, sales and those developing products for older borrowers.

Event sessions are listed on the programme tab.

**This event was closed to press**

Programme

0930 - 1000

 

Registration and refreshments

1000 - 1005  

Welcome and introduction
Paul Turner, Managing Director, Retirement Lending, International and Group Development, Just

1005 – 1035        

 

Demographic impact of an ageing population on the housing market

(1005 –1020)        

 

Facts and figures
James Tatch, Analytics Manager, Council of Mortgage Lenders

(1020 - 1035)   Policy perspective
June Deasy, Head of Policy, Council of Mortgage Lenders

1035 -1100   Ageing population strategies from the pension sector

Graham Vidler, Director of External Affairs, Pensions and Lifetime Savings Association

  • Retirement income adequacy 
  • Pension freedoms
  • Property in retirement
  • Advice
  • Vulnerability 
1100 –1130          

Refreshments

1130 – 1200        

 

Delegate discussion

This session is an opportunity to discuss the issues relating to the building for an ageing population in small groups and prepare questions for the next session.

1200 – 1240   

Building for an ageing population panel
Brian Berry, Chief Executive, Federation of Master Builders
Stephen Ladyman PhD, Director, Oak Retirement Ltd                    
Paul Teverson, Director of Communications, McCarthy & Stone

  • Providing suitable housing
  • Housing demand over different demographics
  • Implication on stock and sales
1240 – 1340   Lunch

1340 - 1430  

The advice framework for older borrowers

(1340 – 1400)  

What do we know about demand, consumer needs and behaviour and consumer segmentation?
Nick Hurman, Director, Jackie Wells & Associates

(1400- 1430)  

Is the market meeting consumer needs?
Jackie Wells, Director, Jackie Wells & Associates                              

1430 – 1500   Refreshments

1500 – 1540   Lending products for older borrowers

Steven Ellis, Managing Director, Legal & General Home Finance
Will Hale, Business Development Director, Key Retirement
Colin Munford, Senior Manager, Interest Only Mortgages, Santander UK plc

  • How lending is benefitting from later life lending and how lifetime mortgages can help

1540 – 1610

 

Interpreting regulation
Deian Jones, Managing Director, Hodge Lifetime

  • Perceived issues with current regulation and how to combat them
  • Exploring affordability testing
1610 - 1620    Chair's closing remarks
   

 

   

Chair: Paul Turner

Managing Director, Retirement Lending, International and Group Development, Just 

Paul Turner is Managing Director, Retirement Lending, International and Group Development.  He is a member of the Just Executive Board and a member of the CML Executive Committee.

Paul has responsibility for the UK mortgage business lines, international retirement and care business lines in the USA and South Africa, and corporate development of the group. 

Since joining Just Retirement in August 2014, Paul led the set-up of a new mortgage business in the UK and new retirement business in South Africa.  Paul also led the merger of Just Retirement with Partnership which completed in April 2015.

Prior to joining Just, Paul held various senior roles at Swiss Re including Principal Officer and approved person for Singapore, Head of Life and Health Southeast Asia and Chief Underwriter, Asia Pacific.  Paul has over twenty years of international insurance industry experience having held senior roles in the UK, Australia, Hong Kong and Singapore. Paul is an FCA approved person.

Brian Berry

Chief Executive, Federation of Master Builders

Brian Berry is Chief Executive of the Federation of Master Builders (FMB), the UK’s largest trade association in the construction sector. Prior to his current position, Brian was Director of External Affairs at the FMB with responsibility for UK and EU policy, public affairs and media relations. Before joining the FMB, he worked at the Royal Institution of Chartered Surveyors (RICS), where he was Head of UK Public Policy and as a teacher at The Charterhouse Square School in central London. Brian regularly provides commentary on construction issues for TV, radio, national and trade press.

 

 

 

 


June Deasy

Head of Policy, Council of Mortgage Lenders

June Deasy has sixteen years’ in-house and agency experience in strategic communications, public policy and public affairs, and has advised and briefed senior executives, politicians, government officials and other policy influencers at UK and international levels. Her work has included developing and promoting policy for high profile multinationals in the financial services, energy, retail and transport sectors; housing sector organisations; trade associations and global professional bodies.

 

 



Steven Ellis

Managing Director, Legal & General Home Finance

Steve Ellis has been fundamental to the successful entry of Legal & General into the lifetime mortgage market having led the acquisition of Newlife for the Group in 2014. He has been with Legal & General since 2007 and has previously run a number of operational areas in corporate risk and annuities. Previously, he successfully managed large scale operations for outsourcing organisations and was a management consultant for GE Capital’s businesses in the UK and US.

 

 

 

Will Hale

Business Development Director, Key Retirement Group

Will Hale is Business Development Director. He sits on the KR Group Board and is responsible for growing new channels of distribution. Through partnering with building societies, life companies, banks, affinity groups and intermediary partners, Key are committed to developing innovative propositions to help older customers access appropriate lending solutions. With 18 years’ experience working for a wide-range of financial services firms, Will has performed senior sales and proposition development roles all focussed on the ‘at’ and in retirement market.







Nick Hurman

Director, Jackie Wells & Associates

Nick Hurman has over 35 years of experience in financial services both as a senior executive and a consultant. As an independent consultant, he has specialised in strategy and research work, much of it in the public policy area. He has been involved in the equity release market for 25 years with providers, distributors and trade bodies.

 

 



Deian Jones

Managing Director, Hodge Lifetime

Deian Jones has been the Managing Director of Hodge Lifetime for the past six years.  He is responsible for all aspects of the development of the business, with a particular focus on product design, customer outcomes and strategy.  He is a chartered accountant, and before joining Hodge spent eight years at KPMG.

 

 

 

 

  



Stephen Ladyman PhD

Director, Oak Retirement Ltd

Stephen Ladyman PhD is a former Health Minister with responsibilities that included Extra Care Housing. After leaving Parliament he became the Chief Executive of Retirement Security Ltd, a company that manages extra-care retirement property, and in 2012 set up his own company, Oak Retirement, in the same sector. He is also Chairman of the Somerset Partnership NHS Foundation Trust and of the Retirement Housing Group.

 

 

 

 

Colin Munford

Senior Manager, Interest Only Mortgages, Santander UK plc

Colin Munford has worked in financial services for thirty years, mostly in strategy and marketing roles.  He has managed the interest only programme for Santander since 2013 where customer contact, engagement and solutions are key areas of focus.

 

 

 

 

 
James Tatch

Analytics Manager, Council of Mortgage Lenders

James Tatch is the analytics manager for the Council of Mortgage Lenders, with lead responsibility for the CML’s statistics and data work.

James has worked in economics and statistics for 20 years, the past 11 of which have been at the CML. Working first in academic research, James then moved to the public sector before finally settling in the private sector within financial services.

 

 

 

 

  

 

Paul Teverson

Director of Communications, McCarthy & Stone

Paul Teverson joined McCarthy & Stone in 2011 having previously worked as an adviser to a senior MP and Government Minister in Parliament and provided communications support for a number of UK house builders and national infrastructure companies. Paul was appointed to McCarthy & Stone’s Executive Committee in 2014 and is responsible for national, corporate and internal communications, and also supports the company’s national public affairs programme.

 

Graham Vidler

Director of External Affairs, Pensions and Lifetime Savings Association

Graham Vidler has worked in pensions for almost 20 years, joining the Pensions and Lifetime Savings Association as Director of External Affairs in 2014.

Before joining Graham had been NEST’s Director of Communications and Engagement for six years. Previously, he had worked in marketing, policy and research roles at AVIVA, Which?, the Association of British Insurers and the House of Commons.

 

 

Jackie Wells

Director, Jackie Wells & Associates

Jackie Wells is an independent consultant with 30 years’ experience of financial services policy, strategy and research. A previous head of policy and research for the Pensions and Lifetime Savings Association and a director at Deloitte, Jackie has worked with most parts of the industry, consumer bodies, regulators and Government and continues to play a role in the helping understand the interaction between industry developments, government policy and savings and retirement behaviour. Much of her recent work has focused on the retirement finances and ageing population. She is also currently engaged in work on pensions, later life lending and broader savings behaviour.

 

Target

Target Group is a specialist provider of loan and mortgage servicing and software. They enable their clients to operate more efficiently, deliver an excellent customer experience and mitigate risk. Over 50 major financial institutions rely on their software and servicing to manage their lending and investment portfolios.  With over 37 years’ experience, they are rated as “Above Average” by Standard and Poor’s. To find out more on how they can help you compete in today’s rapidly evolving market, visit their website or call 0845 650 6200.

W: www.targetgroup.com

Hotel Indigo Birmingham

Canalside event suite
The Cube
Mailbox District
Birmingham
B1 1PR

Nearest overground station:

Birmingham New Street

Contact us

Laura Marshall

Telephone: 08453736771

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