The Equity Release Council | At Connect Lifetime Mortgages, we are proud to be an active member of the Equity Release Council, the leading industry body dedicated to promoting high standards of conduct and consumer protection in the equity release sector.
When considering releasing equity from your home, it is essential to choose trusted professionals. As proud members of the Equity Release Council, we are committed to upholding its rigorous standards, including a strict code of conduct, clear communication, and guaranteed protections for all our clients. These standards ensure that every equity release product we recommend is safe, fair, and transparent.
The Equity Release Council plays a vital role in safeguarding the interests of homeowners by promoting responsible lending practices, ensuring independent legal advice is provided, and guaranteeing important client safeguards such as the right to remain in your home for life and the no-negative-equity guarantee.
At Connect Lifetime Mortgages, we believe that peace of mind is just as important as financial freedom. Our membership in the Equity Release Council reflects our ongoing commitment to providing ethical, customer-focused advice that you can trust.
Who Are The Equity Release Council?
The Equity Release Council (ERC) is the official trade body for the UK equity release sector. Its purpose is to promote safe products and ensure customers are treated fairly, transparently, and with genuine care. Advisers and lenders who join the Council commit to following strict rules and principles to protect consumers.
Our membership with the ERC means we closely follow these standards, offering clients clear, honest advice and products that truly meet their needs.
Why Standards Matter: Lessons from the Past
In the past, equity release products often failed to protect homeowners adequately. Some retirees faced spiralling debts and lost the chance to leave an inheritance. In the worst cases, families faced financial hardship or even eviction after a loved one’s passing.
Today, the market has shown significant improvement. The Equity Release Council and tighter regulations have created safer products designed around fairness and consumer protection.
Key Product Protections You Can Expect
Choosing an ERC member ensures you benefit from vital product safeguards:
Fixed or Capped Interest Rates
Lifetime mortgages must offer either a fixed interest rate or, if variable, a maximum limit on rate rises throughout the loan term.
The Right to Remain
You retain the right to live in your home for the rest of your life, or until you enter permanent residential care, provided you meet the terms.
The Right to Move
Your plan must allow you to move to another suitable property without penalty, subject to the lender’s criteria for the new home.
No Negative Equity Guarantee
This ensures you or your estate will never owe more than the value of your property. If there is a shortfall after sale costs, neither you nor your family will need to pay the difference.
We only recommend equity release products that meet every one of these key protections. If a plan does not meet the Council’s standards, we will explain all risks clearly and provide full written examples.
The Equity Release Council |Our Commitment to Professionalism
Beyond offering quality products, we are dedicated to professional conduct. As members of the Equity Release Council, we commit to:
- Acting with integrity, honesty, and with your best interests at heart.
- Treating you fairly, avoiding any conflict of interest.
- Applying care, skill, and thoroughness in every recommendation.
- Ensuring that only fully qualified advisers provide equity release advice.
We are also regulated by the Financial Conduct Authority (FCA), which ensures that advice, documentation, and sales practices meet strict rules.
The Importance of Independent Legal Advice
Another critical ERC rule is that you must receive independent legal advice before committing. This ensures you understand the full implications, giving extra protection and peace of mind.
Further Information and Resources
For those who wish to explore standards and protections in more detail, the Equity Release Council’s official website offers helpful information. Topics covered include:
- Product and compliance standards
- Sales guidance and professional rules
- Adviser and lender responsibilities
- Checklists for good practice
- Complaint procedures
Visiting their website gives a clearer understanding of the framework behind every recommended plan.
The Equity Release Council |Choosing the Right Support for Equity Release
Releasing equity from your home is a major decision that deserves careful consideration and expert advice. As proud members of The Equity Release Council, we are committed to providing safe and transparent advice tailored to your long-term needs.
If you would like to explore how equity release could work for you, we invite you to contact Richard Jeremiah-Clarke, a member of the Equity Release Council. Please feel free to contact Richard by clicking the link below.
Thank you for reading our “The Equity Release Council | We Are a Member ” publication. Stay “Connect“-ed for more updates soon!
