More 2 Life has expanded its headcount by 30% over the last 12 months as a result of organic growth.
In order to accommodate the new staff members and meet its growth plans the lifetime mortgage provider will be moving to new larger premises in Preston.
More 2 Life is anticipating continued expansion due to the pension reforms earlier this year, and project that headcount will increase by a further 60% in 2016 to meet new business demands.
The firm says own research has found strong demand for new borrowing solutions to be developed specifically for retired people with two out of three over-55s saying they would like to see regulated lenders launching loans and credit cards for the retired.
More 2 Life will be launching its own solutions and has commissioned a report into the growing issue of retirement lending – Lending in Retirement: The way ahead for customers and advisers. The report forecasts strong growth for equity release and other retirement lending solutions as part of a “seismic shift in the way people fund their retirement”.
The research shows there is strong potential demand to borrow in retirement with 63% of over-55s saying they would welcome the ability to borrow.
Dave Harris, managing director at More 2 Life, said: “This has been a challenging but successful year for us as we have continued to improve and enhance our proposition. We have more exciting developments in the pipeline that will help maintain our competitive position for the remainder of 2015 and into 2016.
“Pensioners and those in the run-up to retirement need flexibility and choice when it comes to borrowing money. As long as there are lenders willing to innovate and develop new products, older borrowers will be entirely capable of making informed and sensible decisions.”
