Just shifts focus onto growth after period of rebuilding

Just also operates in the equity release space. Lowe said there’s plenty of scope for players to make more highly targeted products available to specific types of consumers.

He cited people who have approached retirement with mortgage loans - otherwise called the ‘‘interest-only ticking time bombs’ - as well as the uptick in re-broking activity over the last three years. Both are areas Just has already provided products in.

In its latest results, Just added: "The risk of increased competition in the equity release market is mitigated through continuing work to improve the customer appeal of the group's LTM products, explore new product variants and meet distributors' digital and service needs."

Just’s chief executive, David Richardson, today (August 12) announced the firm’s new environmental, social and corporate governance targets.

One is to bring the group’s own operations to carbon neutrality by 2025. Lowe said the firm has already reduced carbon emissions by 86 per cent in the last three years.

The other is to ensure its financial investments - of which it has around £23bn - are also carbon neutral by 2050, with half reaching this status by 2030.

“We are today further strengthening our sustainability credentials by introducing our new carbon net zero commitment, which builds on the excellent progress already made to reduce the carbon intensity of our business,” said Richardson.