Under the banner “Overcoming Barriers: A Vision for Property Wealth and Later Life Lending,” the plenary sessions at the fifth annual Westminster Later Life Lending Summit set the tone for a day of bold thinking and collaborative action. With the UK’s ageing population at the forefront of the agenda, discussions centred on unlocking the full potential of property wealth to support financial stability in later life.
Speakers examined the structural and societal barriers that continue to limit access to later life lending, ranging from outdated regulation and inconsistent policy to gaps in industry practice and consumer vulnerability. Their insights reinforced the Summit’s central theme: the need to reshape the financial landscape so it works better for consumers.
Innovation featured prominently, with new tools, models, and best practices spotlighted as key enablers of change. Delegates also looked ahead to the launch of a landmark economic study set to redefine the concept of ‘later life’ and underscore the economic and social value of leveraging housing equity.
With more than 350 participants from across the sector, the Summit demonstrated the shared commitment to removing barriers and building a more inclusive, resilient system for later life lending.
In the following sections, we break down each of the day’s plenary sessions to hear directly from the speakers and share a summary of their presentations and key messages.
Unlocking Potential – Government Policy for Later Life Lending
Chaired by Chris Pond from the Consumer Counsel, a panel of experts, James Daley Managing Director from Fairer Finance, John Godfrey Managing Director from The CityUK, and Jackie Spencer, Head of Money & Pensions Policy and Strategy from The Money and Pensions Service, explored how the government can strengthen later-life lending frameworks. They weighed targeted policy levers, fiscal incentives, and legislative changes that would widen access to property wealth and help older households turn their assets into reliable, long-term financial security.
Regulating for the Future
Chaired by Michelle Highman, the panel – Laura Rodrigues, Lead Associate from the Financial Conduct Authority, Paul Saroya Director from Viva Retirement Solutions, Mike Batty Product and Proposition Director from Legal & General, and Charlotte Allen Chief Compliance and Risk Officer from Key Group, discussed how regulation must evolve to reflect the changing needs of older consumers. They explored the limitations of current siloed frameworks and the need for more integrated advice across mortgages, pensions, and investments. The session highlighted the launch of Standards 2.0 by the Council and looked ahead to the Financial Conduct Authority’s upcoming discussion paper, aimed at tackling regulatory gaps and supporting a more joined-up, consumer-focused approach in later life lending.
Aligning for Impact: Building a Customer-Focused Later Life Lending Market
This session highlighted the growing need for a more integrated, customer-focused financial ecosystem to support people entering later life with increasingly complex needs. Tim Hogg Behavioural Economist and Director from Fairer Finance opened with a scene-setting presentation, outlining the barriers facing consumers and the case for change. A strategic panel chaired by Jim Boyd, Chief Executive at the Council followed, featuring Stephanie Charman, Chief Executive from the Association of Mortgage Intermediaries, Robin Rouwenhorst, Senior Policy Manager from the Building Societies Association, Alyshia Harrington-Clark, Head of DC, Master Trusts and Lifetime Savings, from the Pensions and Lifetime Savings Association, and Karina Hutchins, Principal, Mortgage Policy from UK Finance, who discussed how trade bodies can collaborate to build trust and remove structural barriers. The session concluded with a practical discussion chaired by Lee Blackwell Marketing & Communications Director from the Council, where David Forsdyke Partner from Knight Frank Finance, John Somerville, Director of Financial Services from LIBF, and Ricky McKinney, UK Risk and Compliance Director from Royal London shared real-world strategies for delivering more joined-up, impactful support for later life consumers.
From Barriers to Business as Usual: Embedding Vulnerability and Consumer Duty in Later Life Lending
This final 50-minute session focused on how the sector is responding to vulnerability in later life lending, against the backdrop of the FCA’s recent review and the ongoing implementation of Consumer Duty. With the financial lives of older consumers becoming more complex, the session explored what firms are doing to support vulnerable customers—and whether these efforts are working.
Speakers included Simon Pugh Ombudsman Manager from Financial Ombudsman Service, Katy Litt Head of Propositions from Aviva Equity Release, Lauren Peel from Inclusive Outcomes and, Carol Nuttall Solicitor and Director from Adlington Law who brought diverse perspectives from across the sector. The session combined regulatory insight, market research, and practical discussion to highlight current challenges, share good practice, and consider what more is needed to deliver meaningful outcomes and future-proof support for all customers.
