The group includes the advice arm, Equity Release Supermarket, adviser referral service Equity Release Partners, and Equitec, which provides software to support later life lending.

It has reported an increase in enquiries, new leads and applications for loans in a Q3 update.

House price growth has boosted the sector and the ERG says this is down to retirees exploring their options after years of rising costs and tax changes that could impact inheritance and capital gains.

Gregory says: “While we’re seeing a marked improvement within the industry, alongside our current data, which reflects optimism and demand, there is still some way to go before the market fully recovers and will likely take a few years.

“Tomorrow’s Autumn Statement is likely to bring financial planning and life goals sharply into focus with potential tax reforms on the horizon, particularly around capital gains, inheritance tax, and pensions.

“However, releasing property wealth is a tax-free source of capital for many in need of options, outside of a traditional pension or other savings.”

Gregory argues that the need to compare products and pricing accurately is becoming increasingly important.

He says: “Therefore, expansive technology features, alongside independent and whole of market advice, are vital to meet consumer demands in line with Consumer Duty.”

The group’s efforts to reduce the cost of generating leads for the business are starting to pay off, says Gregory.

He adds: “Implementing a more productive marketing and engagement strategy has enabled us to produce double the number of leads with an 85% reduction in budget without changing our core customer journey which is based on transparency, choice and independence.”

In July, ERG struck up a partnership with Royal London to list its products on Equity Release Supermarket.

Royal London acquired equity release business Responsible Lending before bringing this under its own branding.