Category: Equity release
There were 8,351 new equity release plans in Q1 2017, up from 5,175 in Q1 2016 and 8,303 in Q4 2016.
Phoenix, which is a private equity firm, started investing in Key in 2013 and has since invested in systems, technology and staff.
Equity release lending eclipsed the £2bn mark for the first time last year.
Products like Shawbrook’s provide borrowers on maturing interest-only mortgages with the option of securing a residential mortgage as long as they have sufficient equity and fit criteria.
Blanchfield will focus on mainstream lending for those wanting to borrow into and in retirement.
The expo will allow mortgage advisers to meet lenders and retirement planners.
The Council now has 164 member firms.
The bank is analysing a variety of products from equity release to residential mortgages running into retirement before getting involved itself.
Enhanced lifetime mortgages, where lending is based on health and lifestyle, can allow for some borrowers to get a bigger loan.