Spry Finance targets €150m growth in Irish Lifetime Loan market by 2025
- Economic and societal factors indicate demand growth
- Greater acceptance of lifetime loans as financial tools
- Funding available
- UK consumers accessed £4.8bn of value from property in 2021
Spry Finance, currently the exclusive provider of lifetime loans to Irish over-60s, has said it expects to see the market grow by €150m in the coming two years.
Spry recently agreed a long-term funding arrangement with Canada Life Reinsurance which will re-finance its existing loan book and provide funding future lending allowing it to meet growing demand for its product.
While the success the company has enjoyed since launching in 2021 is a strong indicator of continuing growth (more than 750 customers have agreed lifetime loan products with Spry Finance in the period), it is basing its target on economic and market trends and international comparisons.