Equity release is, in a nutshell, a way to unlock the value of your property and turn it into a cash lump sum. To watch the video and to view all of the guidance click here. The new Checklist builds on an update of the Council’s rules and guidance, which came into The Old Rectory Members can read further information by clicking here. Equity Release products are available if you are a homeowner aged between 55 and 95. A new Checklist for Advisers was issued to adviser-members following a review by the Council’s Standards Board which was informed by conversations with major stakeholders over several months. The Equity Release Council aims to protect the customer by putting safeguards and guarantees in place so that the customer has better knowledge, treated fairly and able to confidential make their decision if equity release is right for them. The ballot for directors’ positions on the Council’s main board is now open and details can be found by clicking here (members only). The Council has broadcast guidance to members on non face-to-face legal advice. There are two models, face to face and telephone advice, both aimed at protecting the interests of the customer leading to the most appropriate and correct solution for each individual enquiry. NN6 8SN. “We are continually reviewing our standards, and this latest version of the Checklist will support advisers in taking a personalised approach to each customer. The Equity Release Council has expanded its senior ranks to support the trade body’s growing membership. • fully discussing alternatives to equity release including trading down, grants, use of savings or pension income, and financial assistance from family members (both now and if these alternatives may be relevant in the future). The Equity Release Council is the industry body for all things relating to equity release, and is a self-regulated, non-profit organisation O riginally known as Safe Home Income Plans … 1. The webcast features Council Chair David Burrowes, the Council’s Standards Board Chair Chris Pond and the MD of Equilaw Claire Barker. Long-time follower, but first-time poster here, Can anyone possible help with some advice on Equity Release on an ex-council flat. Adviser members are required to complete the Checklist, which has been expanded from 12 to 24 points, including an extra focus on vulnerable and remortgaging customers as well as those consolidating debt. Members of the Council include providers, legal practitioners, surveyors, funders and a growing variety of advice firms – all of whom sign up to the Council’s best practice Standards of consumer protection. The Council has published a Covid-19 update from OneFamily which is available here. A lifetime mortgage or equity release is the process of releasing money tied up in your property. The comprehensive checklist is designed to complement customer-facing documents, including fact finds and suitability reports, and support a consistent standard of advice for consumers across the market. The Equity Release Council is an organisation dedicated entirely to the protection of over 55 equity release plan holders and the promotion of safe home income and equity release plans.. Equity Release Council code of conduct. The equity release council is a trade organisation that represents the equity release industry. This latest edition was produced in July 2020 using data from customer activity during the second quarter of this year (April to June). Council Chairman David Burrowes has issued a statement following our covid-19 response consultation, which is available by clicking here. The Equity Release Council has published a ‘best practice’ guide for advisers to ensure consumers receive a quality service and that case files capture sufficient details. Equity Release Council makes double appointment It was designed to ensure consumers receive a high-quality and personalised service from their … The Old Rectory The Equity Release Council Originally launched in 1991, the Equity Release Council (ERC) is an organisation that is supported by the leading providers of equity release within the UK. Lorraine Cox (pictured left) takes up the role of membership and business development manager to further support and add value to the organisation’s membership. Council Chairman, David Burrowes, has issued a statement to consumers to update them on our response to the Covid-19 pandemic, which is available by clicking here. It also underlines the importance of establishing if a customer has experienced difficulties with their physical or mental health, bereavement, divorce, emotional or financial issues, literacy, numeracy, or any other traumatic event, that may leave them in a vulnerable position. All firms are expected to treat customers fairly, in accordance with Council principles and those of their respective regulators, with respect to health considerations and additional financial pressures that may arise from the pandemic. The Council has issued a statement to the media on its rapid and ongoing consultation which is available by clicking here. The Equity Release Council has updated a key safeguard that highlights some of the most important factors to consider during the advice process and ensures its rigorous standards are met. Further details are available by clicking here (members only). You can do this via a number of policies which let you access – or 'release' – the equity (cash) tied up in your home, if you're 55+. They represent the lifetime mortgage providers, solicitors and financial advisers. Equity release may impact Pension Credit, Council Tax Discount and Universal Credit EQUITY release may be an appropriate option for those who …