Home > News > Equity Release Introducers Build for Growth

Equity Release Introducers Build for Growth

Equity release introducers expect continuing growth over the next one to three years in their referral business as the market expands, a new report from Key Partnerships, the equity release referral service arm at Key Group

It’s Introducing the Introducers report – based on analysis of more than 9,000 partner records and research with introducers – estimates the number of introducers grew by 1% this year as the equity release market remained robust in the face of economic uncertainty.

Wealthier Customers Access Market via Referral Partners:

Lawyers and legal services firms are increasingly referring equity release customers to specialists making up 6% of introductions this year compared with just 1% in 2021. However, the main referral source is mortgage brokers, who make up 64% of all introduced, followed by independent financial advisers, who account for 11% and wealth managers, who contribute 9%.

Referral customers release more property wealth than the wider market, Key Partnerships’ data shows. On average, they release £133,048 compared to £114,354 for the wider market.

Customers referred by accountants released the most at £183,334 compared with £161,313 by customers referred by wealth managers and £117,414 by clients referred by IFAs. Clients referred by lawyers released an average of £166,987.

The driving force behind Referral Partnerships is Client Need:

Nearly two out of five (39%) introducers say the benefit of setting up a referral relationship for equity release is that it enables them to help clients with issues they were unable to help previously. In comparison, 36% say it enables them to offer a wider range of services.

Client demand is also a significant driver for introducers choosing to refer – nearly a third (30%) said it was clients’ interest that convinced them to set up a referral relationship. Around a fifth (21%) said they preferred to refer as equity release requires specialist knowledge and 22% said their head office or network prefers equity release cases to be preferred.

HICH LTD has continually raised the quality standards in the UK property survey market. Our multi-award-winning property survey service has made us the leading reference in the property survey market.

We offer property survey services of the highest quality. Using state-of-the-art equipment, we provide top-notch property surveys at affordable prices. Our prices are based on the number of rooms rather than the value of the properties, so you will always get the best value for money with our services.

Please look at our Trustpilot page and see why customers have chosen us as their favourite property survey provider!

At HICH LTD, we work to serve our clients and make the world a better place for everyone. We actively collaborate with NGOs to promote environmental, social and charitable causes. If you want to know more about our efforts or how you can help, contact us at hichinfo@aol.co.uk.

HICH LTD extends a warm invitation to contractors and service providers throughout the UK to join our network; by joining the Contractors and Service Providers Network, you will enjoy benefits such as a significant increase in customer flow, advertising on our high-traffic website, and direct contact with thousands of customers in your zip area. Find more information here or by following the QR code in the following video.