Key Partnerships, the equity release referral service for equity release specialist Key, has announced an exclusive national collaboration with independent mortgage expert John Charcol.
As part of its later life lending strategy, Charcol will refer older customers who approach them for support and for whom equity release may be the most appropriate solution to Key for specialist advice. Charcol advisers will continue to provide advice on retirement interest-only mortgages and other types of later life lending.
Under this agreement, Key Partnerships will also refer customers who would benefit from a second charge mortgage to John Charcol. This latest announcement by John Charcol, as part of their continued growth strategy, follows an exclusive partnership with IPSE (the Association of Independent Professionals and the Self-Employed) unveiled in May and an exclusive partnership with OwnMyNest in earlier this month.
Recent figures from the Equity Release Council suggest that with £1.85 billion of housing wealth being released in the first half of 2019, it has been busy start to the year and the market holds significant opportunities for companies who wish to refer. This is backed up by figures from Key Partnerships which saw a 10% increase in adviser referrals in 2019 compared to the same period in 2018.
Luke Somerset, CCO at John Charcol said: “We are delighted to announce this collaboration with Key Partnerships. This adds real value to our overall proposition and will help our customers source the best possible product when it comes to later life lending. Older borrowers have a wider range of considerations than people who are just taking out their first mortgage and we are delighted to be able to provide our clients with access to equity release advice from Key.”
Jason Ruse, Head of Key Partnerships, said: “The interest in the later life lending market is growing rapidly and as part of this we are seeing an increased number of consumers trying to access information and advice on equity release products as they consider their later life lending requirements. This partnership is great news as it means that customers can approach a well-known brand for support with their later life lending needs.”