Our Way
Seniors Money International specialises in the burgeoning market for Home Equity Release solutions for seniors and is rapidly building a reputation for fairness and quality, as well as a growing international presence.
Seniors Money International aims to lead the way by concentrating exclusively on the seniors market
- People approaching or in retirement years need a specialist they can trust who listens to their needs and understands what they want.
- Seniors Money International aims to provide the competitive, relevant, flexible and high value products that the over 60s are asking for.
- We pride ourselves on an extremely high level of customer service and satisfaction. We will go beyond what people have come to expect of financial institutions by offering superlative service and operating to high standards and principles.
We specialise in making a difference for the over 60s and will expand our product range beyond lifetime mortgages over time.
- We offer lifetime mortgages - our main product - in all markets in which we operate, with some local variations too such as the Retirement Village Lifetime Loan (secured on a licence to occupy) in New Zealand.
- In due course we will introduce a range of other financial services products exclusively for people approaching or in retirement years.
We want to set the Home Equity Release standard for fair, quality products.
- We believe the product we offer should be designed to allow occupancy for life - including fair provisions to allow continuing occupancy even in the event of minor breaches of the terms of the loan by the borrower.
- There should be a 'no negative equity guarantee' so that, whatever happens, the borrower or their estate never has to repay more than the net sale proceeds of the home. The guarantee should be as unconditional as possible.
- The borrower should be able to draw funds as they need them and not be forced to take more than they need.
- There should normally be no penalties for early repayment. Our product category is the lifetime mortgage - and for many it is just that. But retirement is a period of change in peoples' lives and there can be valid reasons why a person might want to, or have to, move to a new home. Early repayment needs to be a normal part of the product and not penalised.
- Where possible, interest rates should be variable to allow the flexibility that seniors need. Circumstances in retirement change more frequently than most people expect. We do offer fixed rate loans in some markets where customers demand them but we believe that people in this age group should think carefully before entering a fixed contract longer than about five years.
- The product must not be too complex and should allow for varied criteria, including whether people are single or married, male or female, their state of health and expected longevity, property region, property type, how funds are drawn, expected future interest rates and more.
We have identified many countries with the potential for our products in the coming years.
- Already established in Australia, Canada, Ireland, New Zealand, Spain and South Africa we intend to launch in several more countries over the coming years.
- As there is tremendous potential for lifetime mortgages around the world, we currently have a large number of countries at various stages of research and development.
- One of our key strengths is our ability to rapidly set up and grow in any new market. As our reputation for this grows we are increasingly being approached to set up joint ventures with partners who already have strong distribution in their local markets but need our specialisation and product focus.
