The Marsden Building Society has teamed up with The Right Equity Release to launch a lifetime mortgage service.

Rob Brennan, director at The Right Equity Release, said: “We’re very excited to be partnering with the Marsden Building Society to supplement their innovative over 55+ mortgage portfolio.

“The later life lending market is experiencing rapid growth, and raising awareness of equity release as a fully regulated product with a lot to offer, is one of the fundamental aims of our partnership proposition.”

Rob Pheasey, the Marsden’s chief executive, added: “Many customers are facing barriers as they get older when it comes to their mortgage. Often, when people are approaching retirement age they’re looking to raise additional finance to meet their plans into and during retirement or, looking to downsize or use their savings to pay off their mortgage.

“We have a range of mortgage solutions for customers over the age of 55 but we felt that a partnership with an equity release provider supports customers with more choice where necessary. We are looking forward to working with The Right Equity Release who are reputable providers with a customer focused approach.

“By introducing the service, we believe it will support our customers with high-quality lifetime mortgage options further complementing our focus on the 55+ lending market.”