Former Labour MP, Minister with Department for Work and Pensions and Parliamentary Private Secretary with HM Treasury under Gordon Brown. The equity release council is a trade organisation that represents the equity release industry. The "catch" is that the income-provider must be repaid at a later stage, usually when the homeowner dies. NN6 8SN. If you are in doubt, seek specialist advice. I consent to my submitted data being processed and stored by Equity Release Council in compliance with our Privacy Statement. Equity Release Loans. She has specialised in advising homeowners about the legal aspects of equity release schemes since 2001 and created the Equilaw brand in 2007. With over three decades of experience in the financial services sector, Paul has brought his copious experience to Pure Retirement, where he has been instrumental in its success since its inception. Get your guide. You have two options to contact us. It was created to promote safe equity release products and to safeguard the interests of homeowners. The Council welcomes new applications from those aiming to drive that development of a healthy, successful industry. 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. Summary. 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. Figures published recently by the Equity Release Council suggest that the number of borrowers entering into ERMs, and the cumulative value of these new mortgage plans, was higher in 2018 than it has been in the past ten years. Claire is passionate about maintaining the highest standards for Equilaw’s clients and has sought to assist solicitors nationally by helping to re-write the Rules and Guidance for lawyers during her time on the Equity Release Council’s Standards Board, of which she has been a member since its inception. Email … No Negative Equity Guarantee As a member of the Equity Release Council, we offer a 'No Negative Equity Guarantee'. Born from an expansion of the remit of SHIP (formerly Safe Home Income Plans). *We offer lifetime mortgages from the whole of market from lenders approved by the Equity Release Council. Even if the future value of your client's home is less than the amount they owe, their estate will never be left with a debt from our lifetime mortgage products when your client dies or goes into permanent residential care and their house is sold. Even if the future value of your client's home is less than the amount they owe, their estate will never be left with a debt from our lifetime mortgage products when your client dies or goes into permanent … Data Protection Act Registration Number … All firms advising on or selling equity release have to be regulated by the Financial Conduct Authority (FCA). The Equity Release Council. The Equity Release Council published figures that showed the amount in property wealth accessed by older homeowners increased from £945.97m in 2009 to £3.92bn in 2019. The Old Rectory The Council builds on this unified voice of its members, while remaining independent from the specific views of individual member firms or particular segments of the equity release market. Previously he was Managing Director at fixed-term annuity pioneer Living Time (now called Primetime Retirement). Call : 0800 633 55 66. You can view the contact details of our members in the member directory. The equity release industry is growing fast and as its dedicated trade association, so are we! The Equity Release Council, formerly Safe Home Income Plans is a company limited by guarantee and registered in England No 2884568. However, despite this decade growth, last year saw the equity release market saturate, with lending volumes remaining largely unchanged since 2018 … Carefully selected providers â If equity release is suitable for you and you wish to proceed, your adviser will recommend a product that complies with Equity Release Council standards. In February 2019, Equilaw attracted a multi-million pound investment from private equity house, BGF and the team is now focused on continuing to provide expert, accessible and convenient service throughout England and Wales, but with a heavy emphasis on the use of the latest technology. The most popular form of Equity Release is a Lifetime mortgage. 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