Key Partnerships has seen a 47% increase in equity release enquiries year-on-year as more interest-only mortgage holders see their deals come to maturity.
Key Partnerships, the referral service, signed a deal with both TMA and Sesame Bankhall to enable members to refer customers to specialists at Key.
Key signalled that it is confident arrangements with mortgage clubs and networks will drive further referral growth in 2016.
Will Hale, director at Key Partnerships, said: “The record growth in the equity release market coupled with the launch of new lenders and plans means advisers need to have solutions in place for clients who want to access their housing wealth.
“Advisers deal with customers from a wide-range of backgrounds and vastly different financial needs. Anyone working with older homeowners needs to be aware of the importance of assessing property wealth and the potential to access cash for a variety of purposes.
“Having a specialist relationship in place with advisers they can trust is an important part of ensuring the best possible customer outcomes as well as protecting advisers’ own businesses.”
In return for the referral advisers typically earn £1,450 on completion of the loan.