New opportunities

free2 is a new financial services brand focused on bringing new options to the over 55s. We're dedicated to forging new relationships with a range of distribution partners.​


A new standard in Unsecured Loans


The Over 55s Unsecured Loan offers high maximum loan amounts; up to £150,000 on competitive terms over 20 years. Any outstanding loan is written off on the borrower’s death, so that there’s no liability to the borrower’s estate. 

To qualify, applicants must have sufficient guaranteed excess pension income. This can be from a mixture of pension sources: annuities, personal or company pension, and the state pension. The loan can be used for any purpose, except starting a business. 

With a UK based customer care team, free2, provides a gold standard of customer service, including thorough affordability and suitability checks for full client protection.



Meeting clients needs


The Over 55s Unsecured Loan could enable your customers or clients to borrow large amounts at competitive rates over lengthy terms. It also provides an answer to a common dilemma – how can clients receiving guaranteed pension incomes raise capital when they aren’t able to sell their annuities or withdraw cash from them? The loan could potentially allow your clients/customers to

  • Keep ownership of their property as an alternative to equity release 
  • Ring-fence their savings or investments for existing longer-term financial plans 
  • Make alternative plans for use of their annuities, state pensions or final salary pensions 


Fully advised whole of market Equity Release

For those clients who are more comfortable with Equity Release, then our Equity Release Advice Service is provided by Money Advice & Planning Ltd, a reputable firm of IFAs who operate nationwide and have access to the entire UK Equity Release market. This is a bespoke service to clients including a minimum of two telephone based consultations and as much contact and clarification as needed before the application goes through, and the fee is only payable following the deal completion. 

More about the Equity Release Advice Service.

See our comparison table – Ways of creating a lump sum over 55. Download now. 


In summary

Working with our partners

The options for working together will depend on the products you wish to promote and on your regulatory status. 

If you already have licensed credit broker status and wish to promote the Over 55s Unsecured Loan 

Then we can discuss the opportunity for a joint branded campaign which generates a fee for each completed loan. We’ll work with you to create a plan for introducing the Over 55s Unsecured Loan to your customers in the most effective way, using the latest marketing techniques. 

For partners without licensed credit broker status 

Whether we promote our Equity Release Advice Service or the Over 55s Unsecured Loan, or both product offerings, to your customer base, we’re open to discussing a range of solutions. For example, a paid advertising campaign to your customers utilising your existing marketing channels. There are a number of options to explore. 

For an initial discussion - please complete our enquiry form and we’ll be in touch. 

For Financial Advisers…

Your existing regulatory status, the type of advice you offer and the permissions you have on whether to advise on unsecured loans and equity release will shape our initial conversions. 

If you’re a financial planner with a credit broking license

Let’s discuss the opportunities to allow you to offer additional solutions within your broader advice recommendations. 

If you’re a financial adviser, but you’re not a licensed credit broker

We’d be happy to suggest other ways of working together. For example, we’re building up a directory of firms to whom we can introduce financial advice firms for referral business.

If you’re a licensed credit broker, but you don’t offer financial planning 

Let’s discuss the potential to open up a new target market alongside your existing broking. We may also be able to introduce you to financial advice firms looking for licensed credit brokers for client referrals. 

Sizing up the opportunity

Sizing up the opportunity

We’ve done our research:

  • There are 7.29 million 55 to 70 year-olds who own property in the UK – whether mortgaged or unmortgaged (Source, Experian 2019).
  • Household incomes vs discretionary income in the 55-70 age range are higher than the national average (Source, Experian 2019).
  • In 2019, 45,598 homeowners used equity release to access an average of more than £70,000 each. This is a market size of £3.44bn. Anecdotally, 2020 is set to exceed this amount. (Source, Keys Equity Release Market Monitor January 2020)
  • 5 million people in the UK currently receive an annuity. Of these, 4 million are aged under 70 (Source, ABI). 
  • According to a YouGov Omnibus Study commissioned by Black Diamond in 2017, 2.25 million annuitants were previously interested in selling their annuities before the secondary annuity market was cancelled.

To find out more, view our Market Potential Fact Sheet.

You’ll have our full support

  • We’ll work closely with you to help you make the most of this new opportunity to promote targeted financial services to your over 55 customer base by providing sales support material, content for your website and, where appropriate, direct marketing support to your existing clients. 
  • We believe that the Over 55s Unsecured Loan represents a new way to help the over 55s do more. It also gives your organisation an exciting new opportunity to broaden your customer offering. 
  • Our Equity Release Advice Service is a comprehensive, independent service that covers the whole of the UK market place and provides unique, individual advice. Advisers will get to know your clients and offer bespoke advice with deals that truly suit their needs. 

To find out more ways to help the over 55s do more. View our reasons to borrow.

For an initial discussion - please complete our enquiry form and we’ll be in touch.

Full support


Enquiry form