The Responsible Group has sold a 30% stake to Royal London

Equity release specialists Responsible Life and Responsible Lending (Responsible Group) have sold a 30% stake to The Royal London Mutual Insurance Society Limited (Royal London).

Based in Plymouth and founded in 2010, Responsible Group is a leading broker and correspondent lender in the later life lending (equity release) industry, with a number of leading distribution partnerships including Aviva and the Telegraph Media Group. Its pioneering ‘Later Life Lending’ scheme is the most compliant form of addressing equity release, with market-leading systems and controls adhering to exceptional conduct standards.

For Royal London, the UK’s largest life, pensions and investment mutual, the acquisition will offer participation in one of the fastest-growing markets in financial services. The later life lending sector offers alternative options to those at retirement age who hold equity in their properties and who wish to supplement their pensions saving.

Oaklins Cavendish, based in the UK, advised Responsible Group on the sale of a 30% minority stake to Royal London. The team obtained a thorough understanding of the business, ensuring the correct positioning of its pioneering later life lending proposition and the market opportunity available to it. The team managed the process from start to finish, ensuring the delivery of a tight timetable and equitable legal negotiations.