Phoenix Group’s SunLife and Key Group have partnered up to create a range of lifetime mortgage products named “SunLife Sunrise.”
The products will be directly offered to customers by tied advisers and will be Defaqto five star rated.
These products are designed to offer flexible features to help customers access their housing equity.
The products will be funded by Phoenix Group and will be offered alongside a suite of other SunLife products, including over-50s life cover.
Key Group’s advisers, operating under the Key Advice Solutions Banner, will provide fee-free advice to help clients weigh all their options.
If the SunLife products aren’t suitable, customers will be referred to a whole-of-market option. SunLife’s director of commercial and partnerships, Ian Cooper, said the partnership was designed to make it easier for customers to access affordable and straightforward financial services.
Will Hale, CEO of Key and executive sponsor, said: “We are delighted to be working with a well-respected brand like SunLife to help them support customers with access to equity release products.
“With increasing numbers of over-55 feeling the cost-of-living pinch and considering how they can make the most of all their assets in retirement, SunLife provides them with the reassurance of dealing with a familiar brand supported by decades of later life lending expertise provided by Key.
“We look forward to working closely with the team at SunLife to make this new venture a success.”
Cooper added: “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.
“Housing wealth is becoming an increasingly important part of retirement planning for our customers and at SunLife, we want to be at the forefront of helping people to make their older age as comfortable as possible.”
