The independent mortgage expert — whose advisers will continue to provide advice on retirement interest-only mortgages and other types of lending — will refer older customers for whom equity release may be the most appropriate solution to Key for specialist advice.

The collaboration will also see Key Partnerships refer customers who would benefit from a second charge mortgage to John Charcol.

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“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,” said Luke Somerset, CCO at John Charcol.

Jason Ruse, head of Key Partnerships (pictured above), 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.”