The ‘SunLife Sunrise’ products have been funded by the Phoenix Group. They will be offered directly to consumers through on a fee-free basis by advisers under the Key Advice Solutions Banner. If they are unable to find a solution for later life clients through SunLife, they will be referred to a whole of market option.
The products have downsizing and inheritance protection, allow partial repayments of up to 10 per cent each year and there is no early repayment charge (ERC) for joint borrowers if the first borrower dies or goes into care.
Will Hale, CEO of Key and executive sponsor said the proposition, gave clients the “reassurance” that they were “dealing with a familiar brand supported by decades of later life lending expertise provided by Key”.
He added: “We look forward to working closely with the team at SunLife to make this new venture a success.”
Ian Cooper, director of commercial and partnerships at SunLife, said: “At SunLife, we are focused on helping to make life a little easier for people by offering straightforward and affordable financial services.
“To achieve this, we regularly review our approach and are delighted to announce a strategic partnership with Key Group which is designed to help us achieve this.”
