Key Partnerships has reported record growth and says it will almost double the size of its team.

The equity release market has increased by 19% year on year in terms of lending. However, Key Partnerships has seen growth of 38% in the number of referrals year on year with initial lending of £120m with a total facility available of £149m in 2018.

In February 2018, Key Partnerships employed nine team members but this will almost double to 16 by the end of Q1 2019.

Recent recruits include two new regional managers – Martin Sloan (North) and Chris Feeney (South) who will support colleagues working on the ground in these areas.

To strengthen the business development team, Key Partnerships also welcomes Rachel Flanagan as BDM for the South West who will be starting on 18 March. Key Partnerships is also looking to recruit additional partnership account managers and another national account manager who will be working alongside the current national account manager – Kay Westgarth.

Jason Ruse, head of Key Partnerships, said: “With increasing numbers of clients asking their intermediaries how they can use their housing wealth in later life, we are seeing strong growth in the referrals market.

“This is excellent news for the sector as it means that not only can we support more customers but our partners can provide their clients with the type of holistic approach that they need.

“With the addition of Martin, Chris and Rachel and further appointments we will be able to help our partners to continue to grow and drive equity release referrals.”