Just Mortgages has partnered with equity release referral service Key Partnerships in a drive to ensure that its brokers can cater fully to the increasing number of clients who need access to the later-life lending market.

Just Mortgages revealed that referral service will apply to both its employed and self-employed divisions, and will “complement and enhance” the advice that Just Mortgages’ advisers already provide to their clients on the whole range of mortgages from first-time buyers to later life mortgages.

Despite Just Mortgages expecting to receive authorisation from Openwork to provide advice on equity release by either June or July 2019, it said the partnership with Key is expected to be "long-term" to cater for those advisers who prefer a referral service.

Just Mortgages group operations director John Phillips said: “We recognise the growing importance of later life lending in all of its guises and equity release forms a very important part of that. Not only can it help people when they need it most by providing solutions to challenging financial issues, but it can also be used for gifting and ‘age proofing’ their homes.

“Equity release is increasingly a vital part of the mortgage advice mix and that is why this relationship with leading equity release provider, Key Partnerships, is such a vital one.”

Key Partnerships head Jason Ruse added: “Increasingly, we are seeing more and more companies in the financial services arena recognise that being unable to help customers who are looking for later life lending support is putting them at a competitive disadvantage. We are therefore delighted to be working with a well-respected brand like Just Mortgages as they look to make their offering for older borrowers more holistic.

“While equity release is not right for everyone, it is hard to argue that it does not fill a very real need in today’s market and we look forward to helping Just Mortgages service increasing numbers of their customers.”

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