One in three equity release plans sold to the end of Q3 were arranged by Key Retirement which has announced lending growth of 20 per cent.
The company said this represents faster lending than growth across the market, with Equity Release Council figures for the year to the end of Q3 showing growth in total lending of 14 per cent.
The over-55s specialist, which won its 50th award for equity release advice excellence, has recently announced a sole introducer relationship with Legal & General to deliver equity release advice to L&G customers.
Dean Mirfin, technical director at Key Retirement, said: “Specialist advice is critical to enabling customers to access equity release and to help the market fulfil its potential as a mainstream retirement income solution, which is highlighted by the continued growth in demand.
“Our objective is to accelerate and build our market-leading position and we have ambitious plans for sustained, long-term, growth driven by continued innovation in advice and product design.”
Adviser view
Keith Jarman, practice pensions specialist at Hampshire-based Hughes Carne IFA, said: “I’m not surprised that there’s a marked increase in the number of cases going through.
“We haven’t seen a massive increase ourselves for people looking for equity release, but its certainly a very important part of the overall retirement equation.”
