Equity release lender, more2life, has revealed that it now has £5 billion of loans under management, following the rise in property purchase cases prompted by the Stamp Duty Holiday,.
Research published by more2life found that 94% of advisers felt confident about the outlook for the equity release market over the next year, which it says demonstrates the wider industry is also set to go from strength to strength in 2021 and beyond.
Dave Harris (pictured), chief executive officer at more2life, said: “Hitting £5bn of loans under management is a huge achievement and is testament to the hard work of our entire team.
“To achieve this during the turbulence of the last 18 months that included a pandemic and the need for a significant proportions of our team to work from home highlights our commitment to the market and drive to create better customer outcomes by supporting advisers.
“The equity release sector looks on track for a record level of lending this year and, as the industry evolves, driving product innovation and working with advisers to ensure unlocking equity is seen as a viable option remains of paramount importance. We look forward to helping to push the industry forward as it enters an exciting period.”