"Our transparent referral fee structure – which provides introducers with a percentage of the loan amount – has really fuelled our 88% growth."
Since the re-launch of Age Partnership’s Introducer scheme at the beginning of the year, it has seen 88% growth in the number of equity release referrals.
The 88% increase outperforms annual growth of 23% for the equity release industry as a whole, according to the latest figures released by The Equity Release Council.
Age Partnership says the rise in the number of specialist introducers in the market will ultimately benefit the entire equity release sector, as it broadens the reach of the product through a national network of independents.
To provide additional support to those wishing to engage with the sector Age Partnership has announced "signigicant investment" in the growth of its partnership team.
Adam Carnall, Head of Partnerships, commented: “We have invested in growing the team, doubling its size since we re-launched at the beginning of 2016. The newly expanded team has enabled us to offer a national service, this coupled with our transparent referral fee structure – which provides introducers with a percentage of the loan amount – has really fuelled our 88% growth. And by bringing marketing capabilities into the fold we are more equipped than ever to gain our share of voice.
“In addition, at the beginning of Q2 our introducer team was joined by Tom Moloney. Tom brought with him 14 years’ worth of industry knowledge and experience. Coupled with his background in debt management and interest only mortgages, Tom adds considerable value to our team as his experience addresses two of the largest market drivers.”
Tom Moloney added: “Since joining Age Partnership we have gone through a period of rapid growth which is set to continue well into 2017. We will shortly announce new and exciting partnerships that will allow us to support more interest only clients who have no repayment strategy or a shortfall on their mortgage.
“My background with a debt management charity has enabled us to develop our advice and offerings for those people who may need assistance with repaying their interest only mortgage or debt. With the right advice and support equity release can be a real solution for those wishing to resolve their debt problems without moving home.”