Secure Trust Bank is working with Key Retirement to distribute and design a later life proposition.
The bank launched its mortgage division in March 2017, with its current range of products targeting contract workers, the self-employed, older borrowers, those with complex incomes or those who have experienced a credit blip.
Will Hale, chief executive at Key Retirement, said: “Whilst equity release continues to grow in popularity and remains the product set that meets the needs of the majority of our customers, we are seeing an increase in enquiries from older borrowers who want access to more capital and are willing and able to make interest repayments on a conventional mortgage but are coming across barriers from their existing lender and other high street firms.
“These customers often have multiple sources of income moving into retirement but need lenders to take a more flexible approach to their individual circumstances. With limited specialist lenders in this space, we believe Secure Trust Bank can fill a niche for which there is much need.”