Key Group: Impact & Insights
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We Are Key Group

Understanding new realities, to secure successful retirements

Today, new social and economic realities call for new ways to help people fund successful retirements. And unlocking property wealth is fast becoming a trusted and reliable way to achieve those goals. After all, £3.8tn is held in property wealth across the UK.

 Increasingly, people are using equity release to do just that. By 2021, it’s estimated that equity release will account for £8.4bn in later life lending.

ERC, Key Market Monitor FY 2018, L&G Silver Spenders, Halifax 2017.

Why pensions alone aren’t enough. Today’s retirement realities.

Longer lives, longer retirements

As life expectancies continue to rise, people will need more money to maintain their standard of living through a longer retirement. And as the population continues to age, more people will come to rely on a pension system that is stretched thin.

Smaller pensions, more funding gaps

The pensions industry says that the standard 8% of earnings saved into a pension may not be enough to fund a full retirement. That means, coupled with longer lives, many people retiring today will not have enough to fund a full retirement.

Later home ownership, more debt in later life

Today people are buying homes later in life, meaning they are retiring with more debt than previous generations. By 2029, it’s estimated that unsecured debt held by people over 55 will total £548bn, and pensions alone will not make up the shortfall.

Caring for two generations at once

To add to the financial strain put on today’s over-55s, many are still required to help their adult children or grandchildren financially, as well as support the provision of social care for their parents.

Our latest insights

  • Thought leadership
  • Media
03.12.20

KEY GROUP LAUNCHES LEADERSHIP ACADEMY PROGRAMME

Key Group, the leading Preston-based specialist provider of financial solutions to the over-55’s, has launched a new Leadership Academy Programme for its over 100 people managers as part of its commitment to making Key Group a great place to work.

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25.11.20

Half of women approaching retirement are worried about running out of money in later life

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17.09.20

Launch of Mortgage Advice Bureau Later Life

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23.07.20

Property Wealth is Key to Care Funding for Over 55s

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21.07.20

Corona Caution Means Over-55s are set to borrow £19bn less over the next two years

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13.07.20

Older Homeowners Release £1.42 Billion of property wealth

• Pandemic hits Q2 volumes as customers numbers fall by 27% • Customers focused on repaying debt rather than holidays or home improvements • Low interest rates enable one in eight customers to switch plans

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04.03.20

Expectation versus reality: Older Homeowners Face £17,984 Retirement Income Shortfall

• The retirement income people expect to need is more than double today’s average, with Yorkshire and the Humber home to the biggest reality gap (£27,723)

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17.01.20

Equity Release Market hits £3.4 billion as consumer confidence grows

Q4 saw the highest amount of equity released in 2019 but year-on-year plan sales and value released dropped West Midlands, Northern Ireland, Wales and the North West continued to expand, Key’s 2019 Equity Release Market Monitor shows

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24.09.19

Three quarters of advisers want greater education on spotting vulnerability in clients, reveals more 2 life

87% of advisers said they thought it was difficult to spot a vulnerable customer

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24.09.19

Later Life Lending Market set to Almost Double in Next 10 Years

In 2019, over-55s will owe £295bn, rising to £397bn in the next five years

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21.01.21

• Strong Q4 highlights the continuing strength of the equity release market • Plan sales drop by 12.5% but total value released slips just 4.4%, • Increasing financial resilience and gifting the focus in 2020

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05.11.20

Key Group Confirms Collaboration with Newcastle Building Society

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08.05.20

Key Group creates new Director of Technology role

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06.01.20

Dean Mirfin to step back from Key Group

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11.12.19

New Group B2B Distribution Director at Key Group

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04.12.19

Society of Mortgage Professionals Relaunches

The Society of Mortgage Professionals has relaunched with the aim of raising professional standards and equipping mortgage brokers with what they need to deliver the best outcome for consumers.

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02.10.19

Newly Rebranded Key Group sets out vision for Later Life Lending sector

Strategy will deliver enhanced distribution, services and partnership opportunities for those looking to enter the market

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24.09.19

Key Partnerships announces brand refresh and unveils detailed look at equity release introducer sector

Introducer clients release more than typical equity release customers

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24.09.19

Over half of older homeowners factor property into their financial plans as attitudes shift in later life

Equity Release Council report – Beyond bricks and mortar: the changing role of property in later life financial plans – supported by Key

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Have a question or a media enquiry? We’re happy to talk.

We’re always happy to share our knowledge and insights with the wider world. If there’s anything you’d like to know about our market, our sector or how we’re working to address the changing needs of our customers, partners and society, feel free to get in touch.

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