Age Partnership has announced the creation of 40 new jobs following the announcement of a link up with financial services giant, SunLife, to launch its equity release service for the over 55s.
The SunLife Over 55 Equity Release Service, which is being promoted by TV star, Carol Vorderman, is aimed at educating over 55s about the potential for, and benefits of equity release.
The anticipated uptake of the service, combined with the growth of Age’s over 50s offering, has led to the company, based at Thorpe Park near Leeds, recruiting for 40 new positions – the majority of which are based in the region and cover a broad spectrum of roles including mortgage advisors, financial planners and customer-focused phone-based positions.
Andrew Thirkill, executive chairman of Age Partnership, said: “With the rise in house prices over the last 20-years, a significant number of over 55s are now sitting on a large amount of property equity which they can release to enjoy in their retirement years.
“The potential for the new service, and the equity release market as a whole, is absolutely enormous.
“This is reflected in the steps we have taken in recent months to ready ourselves for this projected market growth, which have included the doubling of our flagship office to 38,000sq. ft., and the plan to create 200 new jobs in 2018 alone.”
Dean Lamble, chief executive of SunLife, said: “We’ve conducted the biggest-ever research into life after 50, with 50,000 people, and we’ve found that today, life after 50 means taking up new hobbies, trying new experiences, starting up new businesses and really enjoying what are fast becoming seen as the best years of our lives.
“Equity release can provide the necessary funds to turn these dreams and aspirations into reality, and SunLife’s Over 55 Equity Release Service is the perfect vehicle to use; boasting as it does our over 50s market expertise and Age’s standing as the UK’s largest single equity release broker. We really are proud of the service and to be joining forces with Age Partnership.”
Since its launch, Age has helped UK homeowners unlock over £2bn in equity.