Referred ER cases are 50pc larger

Customers introduced to Key Partnerships release over £70,000 typically compared to around £46,900 for the rest of the market.

Referral customers also have property typically valued at £325,433, far higher than the market average of £259,882.

Will Hale, director at Key Partnerships, said: “The Financial Conduct Authority has cautioned advisers from ‘dabbling’ in this market recognising the need for specialism.

“Intermediaries can refer their clients to us so they can receive support from the UK’s leading equity release adviser.

“This takes all of the regulatory and compliance worries away and allows advisers to meet the needs of their clients so helping them to maintain a profitable ongoing relationship.

“There is excellent support available from lenders and the Equity Release Council in terms of helping advisers achieve the necessary qualifications and to maintain competency.”

In London the average house price of referral cases is around £678,000 compared with £522,000 across the market as a whole and average values released are £153,000 compared with £127,000.

Hale added: “In many cases advisers have long standing relationships with clients who they have traditionally supported on investments and other services.

“However as their client base grows older, their advice needs change and advisers who have no experience or expertise in equity release can be at a disadvantage.

“The equity release market is changing rapidly with new solutions and rates that are only available through specialist firms.”

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