Legal & General says it is exploring its options with regard to providing financial advice on Legal & General Home Finance’s range of products.

Since 2015, Legal & General Home Finance has offered its customers access to advice on its lifetime mortgage products through Key, operating under the brand ‘The Retirement Lending Advisers’ (TRLA).

This relationship will continue through any transition arrangements and beyond.

Key Retirement Group (Key’s parent company) will remain a strategic partner for Legal & General Home Finance, and Legal & General will continue to work closely with Key and with all of Legal & General’s other intermediary partners to bring access to later life lending into the mainstream, it says.

Subject to regulatory approval, a lifetime mortgage advice service would form part of the Retail Retirement division of Legal & General.

Grant Hughes, formerly head of financial planning at Mercer and CEO of Jelf Financial Planning, has joined Legal & General this week, to work with Sara McLeish, strategy and commercial director, in taking the plans forward.

McLeish said: “Lifetime mortgages can transform people’s lives, providing security, dignity and enjoyment in later life. We look forward to continued close collaboration with Key and with all our intermediary partners, as we work together to bring later life lending into the mainstream.”

Will Hale, CEO of Key, added: “Having worked closely with Legal & General for more than three years to provide their customers with access to their range of lifetime mortgage products, we are very happy to continue to support them whilst they explore options and confirm their plans.

“We look forward to continued close collaboration with Legal & General as we both work to ensure that customers who are looking for advice and support around later life lending decisions receive the best possible service.”