We are a member of the Equity Release Council

The Equity Release Council is an organisation supported by leading providers of equity release. It was created to make sure that equity release products are safe and accessible for consumers.

The Equity Release Council exists to promote high standards of conduct and practice in the provision of and advice on equity release.

Members will:

  • Ensure that all their actions promote public confidence in equity release as a potential retirement solution
  • Act in utmost good faith at all times
  • Communicate high expectations for equity release outcomes in all their dealings
  • Exercise due skill, care and diligence in all that they do, and uphold the standards set out by their professional bodies at all times
  • Always act with the best interests of their clients being paramount, treating customers fairly in all their actions. Members are only allowed to inform you that a product meets the product standards if it meets all of them. The Equity Release Council product standards are as follows:
  • For lifetime mortgages, interest rates must be fixed or, if they are variable, there must be a ‘cap’ (upper limit) which is fixed for the life of the loan
  • You must have the right to remain in your property for life or until you need to move into long-term care, provided the property remains your main residence and you abide by the terms and conditions of your contract
  • You have the right to move to another property subject to the new property being acceptable to your product provider as continuing security for your equity release loan
  • The product must have a ‘no negative equity guarantee’. This means that when your property is sold (after you die or have moved into permanent long-term care) and agents’ and solicitors’ fees have been paid, even if the amount left is not enough to repay the outstanding loan to your provider, neither you nor your estate will be liable to pay any more.

These product standards offer you peace of mind, and means you can use equity release products in confidence, knowing that you will be able to stay in your home for the rest of your life or until you enter long-term care.