Key Retirement is to increase its adviser numbers from 110 to 150 in the first half of 2016.

This follows new business growth of over 20% in 2015. New lending by the specialist broker in 2015 increased by 20.35% over 2014.

The growth in business has been generated through increased enquiry numbers and through a dramatic increase in referrals from IFAs, wealth managers and mortgage advisers who are seeing increased demand for equity release but who would rather refer them to a specialist than advise themselves in this specialist area.

Key Retirement says it also expects strong sustainable growth from its larger corporate partners which include Openwork, Aviva and Legal & General.

Dean Mirfin, technical director at Key Retirement, said: “To meet the increasing demand for the best quality face to face specialist advice we are to increase adviser headcount over the first six months of this year at an unprecedented rate. January has already produced the greatest number of appointments we have ever attended.

“Our training means that experience of advising on equity release previously is not a prerequisite, a good track record in financial advice or mortgage broking however is essential.

“We expect a 25% increase in new business in 2016 and Key will be well equipped to meet the demand this year and beyond. We expect this growth to continue from direct enquiries but also from existing and new referral partners who want to share in the equity release sector.”