Charcol’s advisers will continue to advise borrowers on retirement interest-only deals, and other forms of later life lending.
As part of the deal, Key will refer borrowers who might be suitable for a second-charge mortgage to John Charcol.
The move follows a partnership between Charcol and the Association of Independent Professionals and the Self-Employed (IPSE) in May, as well as a tie-up with online first home guide OwnMyNest earlier this month.
Luke Somerset (pictured), chief operating officer at John Charcol, said the partnership would add “real value” to the firm’s proposition and help borrowers source the best possible product.
He continued: “Older borrowers have a wider range of considerations than people who are just taking out their first mortgage and we are delighted to be able to provide our valued clients with access to market leading equity release advice from Key.”
Jason Ruse, head of Key Partnerships, added: “This partnership is great news as it means that customers can approach a well-known brand for support with their later life lending needs – safe in the knowledge that John Charcol has found a trusted partner can help them make the best choices around equity release for their individual circumstances and likewise for our customers who would benefit from a second charge mortgage, they can rest assured they would be in safe hands with John Charcol.”