Paradigm Mortgage Services has announced a partnership with equity release referral service Key Partnerships.
Under the new agreement, Paradigm’s adviser members will be able to refer clients who are suited to equity release to The Equity Release Experts.
The Equity Release Experts has more than 100 advisers offering whole-of-market advice, and is part of the Key Group.
Rob Brennan, advice delivery director at The Equity Release Experts, said: “This new partnership will help Paradigm’s network of advisers to build on their existing client relationship by offering access to specialist advice from a trusted qualified equity release adviser”.
Gary Little, business development director at Key Partnerships, added: “With the later life lending market continuing to grow, we are seeing an increasing number of mortgage brokers who are keen to offer their clients a wider range of options”.
A report by Key last month found the number of over-55s taking out equity release had continued to increase in the beginning of this year, when compared with the year before, although customers were borrowing lower sums.
John Coffield, head of mortgages at Paradigm, commented: “With increasing numbers of people either entering retirement with mortgages or looking at how housing equity can support them and their wider families aspirations, we wanted to find a trusted equity release referral partner”.
chloe.cheung@ft.com
