View more on these topics

Equity release referrals up 30%: Key Partnerships

Data collected by the Key Partnerships reports that equity release referrals are up 30 per cent year-on-year.

Key Partnerships believes this is due to intermediaries including solicitors, accountants and wealth managers, seeking expert advice on accessing property wealth.

Clients of Key Partnerships using referrals, released an average of £96,064, which is 12 per cent higher than the market average of £85,373.

Furthermore, their homes on average were valued at £392,402, 76 per cent higher than the national average of £223,500.

While the amount released by referred clients is higher than the market average, the former figure has declined from £103,395 in 2017 to £96,064 in Q3 2018.

The equity release specialist believes the change is accountable to a wider range of people approaching introducers for support with their later life finances.

This is evidenced by Key’s most recent equity release market monitor report, which showed that in the third quarter of this year, customers released nearly £5,500 more on average compared with the same period last year, £71,483.

Key Partnerships head Jason Ruse says: “The record growth in the equity release market means a wider range of introducers are realising that their clients can benefit from specialist advice on using their property wealth.

“The higher than average case sizes and property prices for referral customers reflect the growing demand from all introducer including solicitors, accountants, wealth Managers, networks and mortgage clubs.

Recommended

Jobs-Ad-Newspaper-Employment-700.png

Key Partnerships hires new national account manager

Key Partnerships has appointed Kay Westgarth as national account manager, strengthening its senior team. Westgarth joins from Paymentshield where she was a national sales manager. She has also worked as a senior manager handling annuities for Prudential. Her career spans more than 17 years within national sales and account management, including 10 years as a […]

Business-Handshake-Finance-Deal-700.jpg

Buckinghamshire and Key Partnerships collaborate on equity release

Buckinghamshire Building Society customers will have access to specialist equity release advice following an exclusive contract signed with referral service Key Partnerships. The Buckinghamshire is growing its later life lending proposition and recently launched a retirement interest-only product through Legal & General Mortgage Club. Of the arrangement with Key Partnerships, Buckinghamshire head of lending Tim […]

Chancellor, budget

Will housing be a key part of next week’s Spring Statement?

Chancellor Philip Hammond is expected to announce further consultations into the housing market in next week’s inaugural Spring Statement. This economic statement, which will include updated forecasts, will replace the Budget – which was been moved to the Autumn. This statement is not expected to contain wide-ranging tax or policy changes. However, given the focus […]

Computershare Loan Services launches new BTL lender

Computershare Loan Services has announced the launch of a new buy-to-let lender, Zephyr Homeloans. The new company provides a range of mortgage products for professional portfolio landlords and other specialist property investors. The lender accepts both individual and limited company applications through several key intermediary partners for individual BTL properties as well as for houses […]

Newsletter

News and expert analysis straight to your inbox

Sign up