Our members will comply with all statutory regulation. In addition, our members will comply with the Council’s principles, required consumer outcomes, and rules and guidance, which are set out below.
The Overarching Principles require members to:
- Ensure that all their actions promote public confidence in equity release
- Act at all times in utmost good faith, with the best interests of their customers being paramount, by treating customers fairly in all their actions
- Ensure conflicts of interest are identified swiftly and managed fairly
- Seek to deliver suitable outcomes for customers from initial sale through every point of contact during the life of the product.
Required Customer Outcomes
Our members will provide advice, information and professional services that are clear, transparent and impartial.
- They will offer customers the products and services that suit their needs best and which are fairly priced
- Members will seek to identify and provide appropriate support to customers who may be exposed to physical, mental and financial vulnerability at any point of contact
- Customers will be confident that they will be able to live in their own home for as long as they wish, or move to a suitable alternative property, as long as they abide by the terms and conditions of their contract
- Members will do their best to make sure that customers understand their rights and responsibilities at every point of contact.