"The fact that lifetime mortgages will sit alongside Standard Life’s pensions, investments and retirement products shows equity release is now a core consideration in later life financial planning."
Standard Life entered the lifetime mortgage market in September 2021 with its ‘Horizon’ range including drawdown and lump sum options.
Rates start from 3.28% with a maximum loan value of £1,500,000, but higher value cases will be considered.
Standard Life and Key Group announced a strategic agreement, enabling Key Group to use Standard Life Home Finance under a brand licence agreement. The Horizon range of products will be provided by Key Group and will use their platforms.
Jim Boyd, Equity Release Council CEO, said: “The Standard Life Home Finance commitment to build its products around the Council’s consumer protections is a clear sign of confidence in the market and the bedrock of standards that underpin it. The fact that lifetime mortgages will sit alongside Standard Life’s pensions, investments and retirement products shows equity release is now a core consideration in later life financial planning.
“The equity release market has seen a sustained increase in competition and innovation over the last ten years. It is important we build on this platform to meet the expected rise in demand, as lifetime mortgages gain further recognition as a practical, common-sense and aspirational choice in the right circumstances.”
Scott Robertson, board member of Standard Life Home Finance, added: “We are delighted that Standard Life Home Finance has become a member of the Equity Release Council. The innovative range of customer centric equity release products will provide more options to help people plan for their future, and the Council’s endorsement mark will be an added surety for customers.
”We look forward to working closely with the team at the Equity Release Council as it leads the way in ensuring the very highest standards across the industry, and we are focused on playing our part in the ongoing development of this relationship.”