The Equity Release Council is a voluntary trade body whose mission is to help more over 50s to make informed choices about their property wealth by championing trusted and transparent products and advice.
A key part of this is working with our members to champion high Standards of advice and product development so people can be confident that if they decide to take out a plan, they will receive the help and support they need.
Our in-depth set of Standards govern how our members behave and at the heart of this is our Consumer Charter which outlines what people can expect when working with a member of the Council.
You can trust that you will receive tailored, thorough and transparent support which is designed to help you make the right choice for your individual circumstances and get the most out of any products they choose.
Trusted – You can trust that you are dealing with regulated and qualified professionals throughout your journey who work in your best interests and treat you with respect and understanding. This trust will be built on the knowledge that your adviser, your provider, the surveyor and legal representative will be expected to uphold the highest standards of their professions as mandated by their regulatory bodies. In addition, your provider will make sure that any lifetime mortgage or home reversion products will also meet the additional Product Standards of the industry standards setter, the Equity Release Council.
Tailored – You can expect to be provided with clear, transparent, and tailored recommendations once your personal objectives and goals have been thoroughly discussed. Any advice will consider your personal circumstances, including an assessment of your income and expenses, and will explore alternatives to equity release. You will receive comprehensive information to help you make your decision, before proceeding with any recommendations. After completion you will have ongoing support from your provider which may include referral back to your adviser for any further advice.
Thorough – You can expect your adviser, legal representative, the surveyor, and provider to listen to your questions and offer clear, comprehensive answers and support. These professionals will guide you through the process, helping you carefully consider the impact on your family and your plans for both the present and future.
Transparent – You can expect transparency at every stage of the process including the products available to you. The advice, its scope, the product details, terms and conditions, Product Standards, fees and charges, and the potential financial impact on your family and inheritance will all be clearly explained. This transparency ensures you feel comfortable and confident in the choices you make.
Your adviser will be happy to talk you through the Consumer Charter, or their own firm’s equivalent, as part of the advice process and answer any questions you may have.
If you feel at any part in the process that you are not being treated in keeping with the expectations set out in the Consumer Charter, please discuss this with the Equity Release Council member who is supporting you and ask them to treat you in a way that matches those expectations or explain why they can’t.