Phoenix Group  

Standard Life moves to consolidate mortgage and pension advice

“We’re reasonably ahead of planned targets,” said Ground in reference to the brand’s funding of the new equity release range. “But we’re in a closed period, so I can’t reveal them right now.”

The business has seen a trend of larger mortgages coming through as people increasingly use equity release in their retirement planning.

Last year, activity climbed 24 per cent year-on-year to £4.8bn, according to the Equity Release Council - of which the Standard Life brand is now a part. 

The market, having struggled to grow beyond £4bn in previous years, has finally returned to growth, according to the council.

ruby.hinchliffe@ft.com