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Saga launches mortgage service in bid to be ‘over 50s one stop shop’

Saga, the provider of products and services for the over-50s, has teamed up with digital broker Tembo to launch Saga Mortgages.

The target audience is the existing homeowners who is either looking to help or support a family member onto the property ladder; or is considering remortgaging; or is looking for alternative sources of later life lending.

Saga Mortgages offer will include a digital mortgage fact finder service; live mortgage pricing and affordability for all available mortgage products from over 110 different lenders; eligibility checks across 100 different lenders to identify the best way to boost a customer’s budgets; personalised plans and payment schedules; and a secure account where customers will be able to save their details, edit plans, book appointments, track progress, upload documents and explore other Saga products.


Tembo mortgage specialists will provide personalised market advice on appropriate products via telephone and video, seven days a week.

Each customer will also have their own case manager operating through to completion, including making contact every three working days between mortgage submission and completion. Saga Mortgages will also liaise with the lender, solicitor and sellers, acting as a coordinator on behalf of the customer.

Alex Edmans, head of financial services at Saga Money, says: “Our research shows that many of our customers are looking for a service that specialises in supporting over-50s through the mortgage journey, particularly those who are seeking family-boost mortgages, remortgages, or equity release alternatives. With this in mind, we have created a service which simplifies this process, providing a personalised range of mortgage options, underpinned by a team of experts, to provide advice and support seven days a week.”

And Tembo founder and chief executive Richard Dana adds: “Saga is a beloved brand for millions of over 50s who trust them to provide best-in-class experiences and products. At Tembo we specialise in finding mortgage solutions, often when our customers felt there wasn’t a route forward. Together, we have the opportunity to transform the digital mortgage offering for over 50’s. Through the Saga Mortgages platform, users can do everything from remortgaging their own home to understanding how they could help their loved ones get on the property ladder with the Bank of Family.”


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