Please note: the office will close on December 23 and reopen on January 4. 30 June 2020. The Equity Release Council’s market statistics are compiled from member activity, including all national providers in the equity release market. The signature of the delegate/visitor or his/her duly authorised agent on the registration form shall signify the delegate/visitor's acceptance of the above conditions and the same shall bind both parties to this contract. Cox brings with her over 30 years of financial services experience in marketing and relationship management, having held senior sales and marketing roles at AXA Life. As a consumer-focused trade body, the Council is extremely sensitive to and closely monitoring the developing situation with Covid-19. “It is vitally important that the industry continually strives for consistent, accurate and robust advice so that all customers, particularly those who are vulnerable, understand the implications of borrowing in later life,” she added. The Equity Release Council has released updated guidance for practitioners, which highlights some of the most important factors to consider during the advice process and … “Some of these people will see equity release as a potential avenue to release much-needed funds, to supplement their income, or to support family members hit by the crisis. The Equity Release Council (the Council) has broadened its industry representation by appointing the first legal member to serve on its main Board. You will be given an identification badge, which must be shown upon request. She brings over 30 years of financial services experience in marketing and … The guide complements the Council’s recently expanded 24-point Checklist for Advisers and comes following a review of its rules and guidance to confirm it is in line with the regulator’s vision. Equity Release Council The Old Rectory Church Lane Thornby NN6 8SN 0. The Equity Release Council (the Council) has launched a Best Practice Guide to complement its Checklist for Advisers and support firms when discussing and documenting customer needs. In the guide extra focus is put on customers who may be vulnerable such as having physical or mental health issues, bereavement, … Equity release plans jump 41%, reports ERC. Over the course of 25 years, the Equity Release Council continues to represent the equity release sector and exists to promote high standards of conduct and practice in the provision of and advice on equity release which have consumer safeguards at its heart. The Equity Release Council is urging to advisers to ‘respectfully and robustly’ challenge clients’ motivations when looking for lending solutions in its new Best Practice Guide, published today. The detailed guide has been produced by the Council’s Standards Board, drawing on decades of experience from expert adviser members representing a variety of firms in the market. Source: Company websites, 18th May 2018. It is imperative to maintain product safeguards while also protecting customers’ personal health and wellbeing in the current climate. There were 10,351 new equity release plans agreed in the third quarter of 2020, new figures from the Equity Release Council have revealed, an increase of 41% from the previous quarter. 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The guide, which complements its Checklist for Advisers, is … Please simply, Bridging the gap between the old and young – Rozario, No let up in BTL with busy Q1 on the cards – Ying Tan, Brokers need to be ready to pick up the mortgage holiday pieces – Murphy, We need advice firms to embrace RIOs and understand where they fit – Regis, Know Your BDM: Emma Evenett, Leeds Building Society, Know Your BDM: Victoria Shepherd, Metro Bank, Know your BDM – Michael Brown, Skipton Building Society, Know Your BDM: Phil Lawford, Tipton and Coseley Building Society, Mariella Frostrup: Women in the mortgage industry must ‘be unafraid, unapologetic and angry’ – WEFF Annual Lunch, WEFF Leadership event 2019: ‘It’s not up to you as a business to decide what is a crisis’, Case study: Why clients are covering costs with cashback, Virtual BMAs 2020 names Challengers as charity partner, Mortgage Medics partners with homelessness charity Sussex Nightstop, Mortgage industry NHS fundraiser launched, Child-friendly resources for mortgage broker parents, Giving mortgage brokers more control will not speed things up – Marketwatch, ‘Every application is a battle’ but the crisis is driving change – Marketwatch, We need to question the industry’s reliance on government help – Marketwatch, Some borrowers regret taking mortgage holidays but can’t be blamed for panicking – Marketwatch. The Equity Release Council has expanded its senior ranks to support the trade body’s growing membership. Once you have registered and your application has been accepted, then you are expected to attend. And it will help support advisers in gathering soft facts and record customers’ use of language to show why the advice and any product recommended was suitable for the individual circumstances. Equity Release Council sets out guidance to deliver more ‘personalised’ advice. in Later life lending You don’t need to have fully paid off your mortgage to do this. By admin in Later life lending 9th December 2020 0. Simon Posner has been appointed public affairs manager. She most recently worked at professional body the Chartered Insurance Institute managing large corporate relationships. Please enter your email address and we will email you a link where you can change your password. If you don't receive the emails, please contact marketing@ae3media.co.uk or call 0203 815 3683. Chris Pond, chairman of the Equity Release Council’s Standards Board, said: “As a standards-setter with almost three decades of experience, the Council continuously reviews and evolves its guidance for members to promote the highest standard of consumer protection. In 2020 the council enjoyed membership growth of 16 per cent and approaches 1,400 individual members based in more than 560 firms. 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+. However, we recognise these are unprecedented times where acting in the best interests of consumers’ health … The Equity Release Council is urging to advisers to ‘respectfully and robustly’ challenge clients’ motivations when looking for lending solutions in its new Best Practice Guide, published today. Required fields are marked *. Equity Release Council chairman David Burrowes says: “Independent face-to-face legal advice is vital to the consumer safeguards underpinning the equity release market. “This new Best Practice Guide will be a valuable resource for new and experienced advisers as they seek to provide personalised advice to consumers and document their conversations. “Simon and Lorraine’s extensive experience will bring additional momentum to our ongoing work in leading the way in setting the bar as a standards-setter in later life lending. 118 likes. please sign-in using your email and password. “The continued raising of standards has been fundamental to this shift, so I am delighted to see the Equity Release Council continue to drive improvements across the market by launching its Best Practice Guide. Jim Boyd, chief executive of the Equity Release Council, said: “I am thrilled to welcome Simon and Lorraine to the team. Equity Release Council, Thornby, Northamptonshire. Our Equity Release Knowledge Hub is full of reports and documents from both the Council and the wider Sector. The guide, which complements its Checklist for Advisers, is designed to ensure consumers receive a high-quality and personalised service from their advisers. You may also be interested in the Specialist Lending Solutions newsletter. Company status Active Registered delegates have access to the seminars where applicable. The "catch" is that the income-provider must be repaid at a later stage, usually when the homeowner dies. The Equity Release Council found that, while there was a substantial pick-up in activity after lockdown restrictions eased, the number of plans […] Merry Christmas and a Happy New Year from everyone at the Council. By Joanne Atkin in Company news, Later life lending 22nd April 2020 0 The Equity Release Council (the Council) has broadened its industry representation with several new director appointments, following the latest election of members to its board. All cancellations must be received in writing. You have successfully registered for Premium access, please check your email for your temporary password. A No Negative Equity Guarantee (part of the standard for Equity Release Council -compliant mortgages, making it the lender’s sole risk if the sale proceeds do not cover the eventual loan balance); Availability of drawdown facilities, instead of a single lump sum; The advent of inheritance guarantees. Should for any reason the venue or speakers change, or the event be cancelled due to an act of terrorism, extreme weather, disease control, industrial action, act of God or any eventuality beyond the control of AE3 Media, we shall endeavour to reschedule; but the client hereby indemnifies AE3 Media and holds AE3 Media harmless from and against any and all costs, damages and expenses, including legal fees, incurred by the client. 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. Poll: Have you ever successfully challenged a valuation? Previously she worked worked for the Daily Mail and Property Week. Season’s greetings – Read more. 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. © AE3 Media Ltd, Floor 7, Lincoln House, 296 - 302 High Holborn, London WC1V 7JH, Company registration number 8938488. Poll: Are back gardens the new hot selling point for homes? “We are acutely aware that many households find themselves in financial difficulty due to the Covid-19 pandemic and we know, from our own research, that this has left many people re-thinking retirement plans. We support the FCA’s efforts to ensure all customers receive suitable advice on their options in later life. Equity Release Council sets out guidance to deliver more ‘personalised’ advice, Equity release plans jump 41%, reports ERC, First legal representative joins the Equity Release Council board, Equity release take-up plunges as homeowners apply caution during pandemic, New equity release guidelines include support for vulnerable customers, FCA calls on equity release firms to provide more tailored advice, New board appointments at the Equity Release Council, Buy-to-let availability falls amid rising demand from tenants, Mortgage approvals soar to pre-Credit Crunch high, Hanley Economic selects Berkeley Alexander as its general insurance provider, ASTL: Bridging applications leap to record levels in Q3. The expansion of our organisation will enable us to add even further value to members and drive meaningful change through political engagement – and support better consumer outcomes. Latest News. The Equity Release Council has launched a Best Practice Guide to help advisers ensure they cover all bases when speaking to clients and documenting their needs. Equity Release Council publishes best practice guide for advisers. The number of new equity release plans agreed in the third quarter increased by 41 per cent compared to the previous three months to reach 10,351, figures from the industry trade body reveal. Equity release is getting a lot of attention and hype these days as it becoming a recognised mainstream mortgage lending product. O riginally known as Safe Home Income Plans (SHIP), the Equity Release Council was relaunched in 2012 and extended its reach from equity release to financial advisers. Poll: Is your business operationally resilient in the event of an IT meltdown? December 9, 2020. If you are subsequently unable to attend, please make sure your notice of cancellation is sent at least three weeks prior to the date of the event. 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