With no firm plans on the table, Hale said Key Later Life Finance was interesting in diversifying into other sectors of the mortgage market.
Hale (pictured) said: “In 2025, we’re interested in exploring diversification into specialist lending advice.
“We are looking more broadly at what our later life customers need, such as second charges, buy to let [BTL] or intergenerational lending.”
Hale said there were no specific plans underway, but the company was making sure it looked to the wider market to stretch its lending and advice capabilities.
When asked whether Key Later Life Finance would diversify into these markets in an advice, referral or lending capacity, he did not rule out any options.
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He said: “We have a flexible lending platform and funding model. We could direct that lending into other opportunities.”
Hale also sounded a warning that the increase to employers’ National Insurance contributions (NICs) announced in the Budget would be a difficult cost for some equity release firms to absorb, which could result in customer charges rising or cuts to the workforce or pay.
