Standard Life Home Finance has joined the Mortgage Advice Bureau Later Life Lender panel.

The move will provide Standard Life’s later life advisers with access to a wider range of products on the market.

Mortgage Advice Bureau established its Later Life panel in 2020 in partnership with Key Group. Other members include Canada Life, more2life and Legal & General Home Finance, which provide the later life advisers within their network with access to a number of plans designed to meet different customer needs.

As the equity release market in the UK heads towards £6bn in lending in 2022, Standard Life suggested its partnership with MAB will further develop the market for lenders, advisers and over-55 borrowers.

Head of sales at Standard Life Home Finance, Kay Westgarth, said: “We are delighted to be joining Mortgage Advice Bureau Later Life’s lending panel, alongside other well recognised brands in this sector.

“Using housing equity to support retirement income or help loved ones is becoming increasingly common and we are pleased to be working with the MAB team to support later life advisers and their clients.”

MAB deputy CEO, Ben Thompson, added: “Having launched MAB Later Life in 2020, we are well positioned to service the increasing numbers of customers who are considering how they manage their borrowing into retirement.

“Standard Life Home Finance is a well respected name in the later life sector, and having the brand join our panel will add some fantastic expertise and new innovative products to the comprehensive range already available to our advisers.”

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