more2life has announced that it now has more than £5bn of loans under management.

Following the boost to property purchase cases prompted by the stamp duty holiday, more2life said it was delighted to reach the milestone, with the sector also look set to break the £4bn per year lending barrier in 2021.

Research recently published by the equity release lender found that 94% of advisers felt confident about the outlook for the equity release market over the next year.

more2life CEO, Dave Harris, described hitting the £5bn milestone as a “huge achievement”.

“To achieve this during the turbulence of the last 18 months that included a pandemic and the need for a significant proportions of our team to work from home highlights our commitment to the market and drive to create better customer outcomes by supporting advisers,” Harris said.
 
“The equity release sector looks on track for a record level of lending this year and, as the industry evolves, driving product innovation and working with advisers to ensure unlocking equity is seen as a viable option remains of paramount importance. We look forward to helping to push the industry forward as it enters an exciting period.”

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