Record referrals drive 47% growth at Key Partnerships
Key Partnerships has reported a record 47% increase in enquiries year-on-year, which it attributes to new partnerships and growing demand for specialist advice.
"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."
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."
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
Inflation
Interest rates could rise as Bank of England responds to oil shock
First-time Buyer
Just one profession pays enough for buyers to afford average UK home
FCA
APPG urges overhaul of 'systemically flawed' UK financial conduct regulation
Interest Rates
Bank of England forecast to hold interest rates 'well into 2027' as inflation tops 4%
This week's biggest stories:
Inflation
Interest rates could rise as Bank of England responds to oil shock
First-time Buyer
Just one profession pays enough for buyers to afford average UK home
FCA
APPG urges overhaul of 'systemically flawed' UK financial conduct regulation
Interest Rates
Bank of England forecast to hold interest rates 'well into 2027' as inflation tops 4%
Bank Of England
Bank of England holds interest rates as inflation risks persist
FCA
FCA confirms new incident reporting and third party rules
