Record referrals drive 47% growth at Key Partnerships

Key says that arrangements with mortgage clubs and networks are expanding awareness of equity release among a wider range of intermediaries, which will continue to drive growth in the number of referrals.

Key Partnerships recently joined forces with TMA and Sesame Bankhall, with both groups enabling members to refer customers to Key.

Key believes that the increasing number of over-55s facing maturing interest-only mortgage issues is also fuelling growth as brokers look to equity release as a potential solution for their clients.

Will Hale, director at Key Partnerships, said: “The record growth in the equity release market coupled with the launch of new lenders and plans means advisers need to have solutions in place for clients who want to access their housing wealth.

“Advisers deal with customers from a wide-range of backgrounds and vastly different financial needs. Anyone working with older homeowners needs to be aware of the importance of assessing property wealth and the potential to access cash for a variety of purposes."