This equates to a £184.7m rise in the three month period ending March 31.
Mike Fuller, chief executive of Just Retirement, says: “I am pleased to report that the positive indications highlighted in our recent interim results are now becoming apparent in our new business figures.
“As anticipated, our equity release business has continued to progress well. Year to date growth against the comparable period is a very strong 52.9%, while the business has shown resilience in current conditions, delivering 8.8% growth against the equivalent quarter last year.”
The firm has also signed a distribution deal with Bradford & Bingley that allows Just Retirement Solutions, the Group’s broker arm, to market equity release through each of the lender’s 197 branches.