Customers without LPAs risk leaving families facing lengthy and expensive Court of Protection action to have control over their finances.

Double digit new customer growth sparks a 32% year-on-year increase in total lending.

Key is urging firms to investigate referral relationships if they are not confident about advising in later life lending market.

The proportion of single women applicants is also at the highest level seen in a year.

The lender has reduced rates across all standard and RIO LiveMore 1 to LiveMore 4 products by up to 0.59%.

The later life lender's Horizon range will now cater to a wider group of homeowners considering a lifetime mortgage.

Property equity can play a bigger role in retirement planning and in supporting the property market, Key says.

The criteria enhancements will broaden the type of properties which could qualify for the Horizon range.

Tailored Interest Reward offers interest rate discounts of up to 0.65%.

Will Hale, CEO of Air, says in order to be fit for the future of the later life lending market, all advisers need to look at all options for customers in their 50s and early 60s.