SimplyBiz Mortgages has partnered with Key Group on a later life lending service for advisers.
The service is called Simply Later Life and is available to all SimplyBiz member firms with immediate effect.
It includes access to the new SimplyBiz sourcing platform developed in partnership with Air Group, the ability for advisers to refer cases to Key Group for advice, and ongoing access to the range of products offered by More2life as part of the SimplyBiz mortgage panel.
Richard Merrett, head of strategic development for SimplyBiz Mortgages, said the initiative had been designed to deliver positive outcomes for consumers, intermediaries and the equity release and later life markets as a whole.
“The past 12 months have accelerated the need for robust later life planning, and set the need to protect both family and home at the forefront of consumers’ minds,” he said.
“Equity release should be viewed not as a product, but as a potential solution where people can prepare, plan and protect in three crucial areas that impact their lives: family, tax and wealth planning and lifestyle.
“We are always looking for ways to support our firms and help them to grow, but it is essential that we do so in a sustainable manner, which is why we chose to partner with Key Group, a trusted specialist partner, to jointly deliver this valuable service.”
Additionally, SimplyBiz Mortgages said it will provide financial promotions and regulatory and compliance support as part of the Simply Later Life offering.
Russell Warwick, group distribution director at Key Group, said: “Having worked closely with SimplyBiz in the past, we know how hard they work to support their members’ ambitions to not only provide good customer outcomes but to develop robust sustainable business models.
“We are therefore pleased that we can build on our existing relationship to launch ‘Simply Later Life’ which uses the broad capabilities across the Key Group and advanced functionality of Air Group to deliver a market-leading services and sourcing platform.”
He added: “The later life lending market is growing and holds significant potential for advisers who are seeking to provide a broader range of options to their clients either directly or through referral partnerships.
"This partnership will make it easier for them to access the support and services that are right for their individual firms and allow them to provide robust compliant support to customers.”
Earlier this year, support services provider SimplyBiz also launched an online protection hub including compliance, training, outsourcing and research support.
sonia.rach@ft.com
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