Secure Trust expands later life proposition with Key Retirement

Launched in March 2017, Secure Trust Bank’s mortgage division targets customers who are often overlooked by the high street lenders, including contract workers, the self-employed, older borrowers and those with complex incomes or those who have experienced a credit blip.

Esther Morley, managing director at Secure Trust Bank Mortgages, said: “As we continue to grow and develop as a business, we seek not only partners who can effectively distribute our products, but also those who can assist us as we evolve our proposition. In the case of later life lending, mortgage providers have a responsibility to offer access to the right products and ensure services are available to meet the needs and requirements of older consumers. Key Retirement has long been established as an expert in this area and we look forward to working with them.”

Will Hale, CEO at Key Retirement, added: “Whilst equity release continues to grow in popularity and remains the product set that meets the needs of the majority of our customers, we are seeing an increase in enquiries from older borrowers who want access to more capital and are willing and able to make interest repayments on a conventional mortgage but are coming across barriers from their existing lender and other high street firms.

“These customers often have multiple sources of income moving into retirement but need lenders to take a more flexible approach to their individual circumstances. With limited specialist lenders in this space, we believe Secure Trust Bank can fill a niche for which there is much need.”