Equity release lender more2life has now hit £3bn worth of loans under management.
The lender had a record year in 2019, completing almost £1bn of new loans.
Dave Harris, chief executive at more2life, said: “Hitting £3bn of loans under management since the launch of more2life is a fantastic milestone.
“To have achieved this goal within a year of reaching £2bn in lending is a phenomenal accomplishment, especially given that after years of double digit growth the market has started to slow.
“A combination of product innovation and hard work from the entire team at more2life has enabled us to grow our business to new heights.
“However, more is yet to come – the retirement lending market is barely scratching the surface of the increasing demand from consumers.
“As the industry evolves, we are committed to launching a series of new initiatives and driving product innovation even further, as we continue to work with advisers to ensure unlocking equity is seen as a viable option when discussing retirement planning with clients.
“Next year looks certain to be an exciting time for the equity release sector and more2life is committed to being at the forefront of pushing the industry forward.”
In 2019, the lender developed and launched five lifetime mortgage plans.
These include Prime Choice, Prime Plus Lump Sum, Tailored Plus, Maximum Choice Lite and Capital Choice Lite.