The Equity Release Council (the Council) is delighted to announce that it has launched an international forum – chaired by Yvonne Ziomecki-Fisher (Chief Customer, Brand and Advice Officer at HomeEquity Bank) with Robbert Mulder (Head of European Later Life Solutions at Senior Capital) as vice chair.

The Council currently hosts eight member forums, which provide organisations with the opportunity to discuss developing issues and collaborate on projects that are designed to push the market forward.  As a Standards setter, the Equity Release Council is also able to share best practice as illustrated by its recently launched Standards 2.0.

The International forum has representatives from a range of countries including Canada, Germany, Holland, France, Ireland, Italy and Poland.  The equity release market in the United Kingdom is considered to be the most advanced in the world and the forum serves to bring different countries together to share insights, tackle developing challenges and champion the use of housing equity in later life.

Yvonne Ziomecki-Fisher (Chief Customer, Brand and Advice Officer at HomeEquity Bank) said: “A significant proportion of the developed and developing world are facing the challenge of how to support a rapidly aging population who may not have the retirement savings they want or need.  Housing equity can play a vital role in meeting this challenge; therefore, I am honoured to be named Chair of the Equity Release Council International Forum. Promoting continued high standards of conduct for equity release products is critical to a thriving industry, and to ensuring better outcomes for consumers across the globe. I look forward to supporting this important work and driving progress and collaboration with my colleagues in the Equity Release Council.”

Jim Boyd (CEO of the Equity Release Council) added: “Every advanced economy is facing the same challenges with rapidly ageing populations and inadequate retirement savings. The Equity Release Council has for over 30 years pioneered standards in our sector which are recognised as the global ‘gold standard’, while the UK equity release market is considered the most sophisticated in the world.

“We are delighted to provide a new ‘international’ forum as a member benefit, and we look forward to sharing our knowledge and standards best practice with the international community as well as learn from them.  This type of insight will be vital as we push collectively for more people to have the opportunity to use their housing wealth to meet their needs in later life

Robbert Mulder, Head of European Later Life Solutions at Senior Capital, concluded: “As institutional investors continue to seek greater portfolio diversification, Later Life Assets – such as Equity Release Mortgages and Home Reversions – are gaining traction as a compelling asset class. I’m honoured to have been appointed vice-chair of the Equity Release Council’s International Forum and look forward to encouraging broader discussion on how we can better support a diverse customer base by directing greater investment toward this high-growth, strategically significant international sector.”

ENDS

Notes to Editors

About the product: Equity release allows older people to access the wealth in their homes, without necessarily having to sell or move. Lifetime mortgages make up more than 99% of the market. They enable people to borrow against their homes without making repayments unless they choose to. The loan and interest, or part thereof, is paid when the customer dies or goes into long term care. Since 1991, more than 950,000 homeowners have accessed £50bn of property wealth via Council members to support their finances.

About the Council: The Council is the representative trade body for the UK equity release market. Plans that meet the Council’s standards come with six product safeguards: no negative equity guarantee; fixed or capped rates for life; the right to port; the right to make overpayments; secure tenure for life and no early repayment charge if the borrower moves into care and can produce a medical certificate. These safeguards are underpinned by mandatory independent legal advice which ensures the customer understands the risks and implications of the plan.

More information: Visit www.equityreleasecouncil.com; call Lee Blackwell, Director of Communications and Marketing at the Equity Release Council on 07950798072; email [email protected]