Research published by the equity release provider found that 94% of advisers also feel confident about the outlook for the equity release market over the coming year, demonstrating the sector is also set to go from strength to strength in 2022 and beyond.

Dave Harris, chief executive at more2life, said: “The equity release sector looks on track for a record level of lending this year and, as the industry evolves, driving product innovation and working with advisers to ensure unlocking equity is seen as a viable option remains of paramount importance.”

more2life has revealed that it now has more than £5bn of loans under management.

Harris said: “Hitting £5bn of loans under management is a huge achievement and is testament to the hard work of our entire team.

“To achieve this during the turbulence of the last 18 months that included a pandemic and the need for a significant proportions of our team to work from home highlights our commitment to the market and drive to create better customer outcomes by supporting advisers.”