Key Partnerships, the equity release referral service for equity release specialist Key, has announced an exclusive national collaboration with John Charcol.

As part of its later life lending strategy, John Charcol will refer older customers who approach them for support and for whom equity release may be the most appropriate solution to Key for specialist advice. John Charcol advisers will continue to provide advice on retirement interest-only mortgages (RIOs) and other types of later life lending.

Under this agreement, Key Partnerships will also refer customers who would benefit from a second charge mortgage to John Charcol.

This latest announcement by John Charcol, as part of their continued growth strategy, follows an exclusive partnership with IPSE (the Association of Independent Professionals and the Self-Employed) unveiled in May and an exclusive partnership with OwnMyNest in earlier this month.

Luke Somerset, CCO at John Charcol, said: “As an award-winning broker with over 40 years’ experience in finding the best mortgage rates for our customers, we are delighted to announce this collaboration with Key Partnerships. This adds real value to our overall proposition and will help our customers source the best possible product when it comes to later life lending.

“Older borrowers have a wider range of considerations than people who are just taking out their first mortgage and we are delighted to be able to provide our valued clients with access to market leading equity release advice from Key.”

Jason Ruse, head of Key Partnerships, added: “The interest in the later life lending market is growing rapidly and as part of this we are seeing an increased number of consumers trying to access information and advice on equity release products as they consider their later life lending requirements.

“This partnership is great news as it means that customers can approach a well-known brand for support with their later life lending needs – safe in the knowledge that John Charcol has found a trusted partner can help them make the best choices around equity release for their individual circumstances and likewise for our customers who would benefit from a second charge mortgage they can rest assured they would be in safe hands with John Charcol.”