A Yorkshire equity release broker delivered record profits in 2021 as the market recovered from the pandemic.

Leeds based Age Partnership Group, and its sister company, Pure Retirement, which provides home loan mortgage contracts within the equity release market, have posted combined profits of £15.6m EBITDA for the year ending 31 December 2021. For the year ended 31 December 2020 ,the combined companies posted an EBITDA of £9.87m.

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The chairman of both Age Partnership and Pure Retirement, Andrew Thirkill said: “The later life lending market grew by 24 percent in 2021, reflecting recovery from Covid-19 disruption and increasing market demand with more people than ever wishing to realise part of the equity in their homes.”

The chairman of Age Partnership and Pure Retirement, Andrew Thirkill

“To meet the increased demand, we are supported by an exceptional team of 650 people across the two companies led by Steve Auckland at Age Partnership and Paul Carter at Pure Retirement.

The company also said trading for the first half of the year has been robust, and the full year 2022 performance is expected to be “materially ahead” of 2021.

Leeds-based Age Partnership and Pure Retirement announce record profits for 2021