"We think there’s lots more to come – the retirement lending market is barely scratching the surface of the latent demand from consumers."
The result comes after the later life lending market generated record annual growth during the first half of 2017, according to figures released by the Equity Release Council.
Dave Harris, CEO of more 2 life, said: “Achieving £1bn of lending since the launch of more 2 life is a fantastic milestone. The lifetime lending sector is becoming increasingly mainstream in the UK mortgage market, amid greater innovation from existing lenders in response to an influx of new lenders and increasing market demand from older homeowners.
“This achievement is a testament to the whole team at more 2 life who have worked tirelessly with customers and advisers as we’ve built our business. However, we think there’s lots more to come – the retirement lending market is barely scratching the surface of the latent demand from consumers.
“As the market evolves, more 2 life will drive further product innovation and will continue important work with advisers to ensure unlocking equity is seen as a relevant option when discussing retirement planning with clients. We look forward to continuing our success in the years ahead, which will undoubtedly be an exciting time for both more 2 life and the wider equity release market in the UK.”
