Responsible Life

Responsible Life, founded in 2010 by Steve Wilkie and Paul Starkey, operates as a specialized mortgage brokerage firm in the United Kingdom, focusing on the later-life lending market. The company's primary clients are homeowners aged 55 and over who are seeking to release equity from their properties. Its business model centers on providing advice and arranging lifetime mortgages, a form of equity release that allows clients to access tax-free capital from their homes while retaining full ownership. The company generates revenue through adviser fees and commissions from the lenders whose products they arrange.

The firm was established to address a perceived gap in the financial services industry for a business dedicated to helping homeowners make informed decisions about their property wealth in retirement. A significant milestone in the company's history was its acquisition by Royal London, the UK's largest mutual life, pensions, and investment company. Royal London initially acquired a 30% stake in 2021 and completed the full acquisition of Responsible Group, comprising Responsible Life and its lending arm Responsible Lending, in late 2023. This transaction provides Responsible Life with the stability and backing of a major financial institution, aiming to integrate property wealth solutions with traditional pension and retirement planning.

Responsible Life's core service is the provision of lifetime mortgages. These products allow homeowners to borrow against the value of their property, with the loan and accrued interest typically being repaid from the sale of the home when the borrower passes away or moves into long-term care. A key feature mandated by the Equity Release Council, of which the firm is a member, is the "no-negative-equity guarantee," which ensures that borrowers' estates will never owe more than the property's sale value. The firm distinguishes itself by offering a range of lifetime mortgage options, including those with drawdown facilities and solutions for high-value properties, but does not offer home reversion plans. As a broker, Responsible Life provides clients with a comparison of deals from various providers to find a suitable match for their financial circumstances. The company is authorized and regulated by the Financial Conduct Authority.

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