Safeguards & Regulations | The Equity Release Company

ensuring your financial protection

Protection Is crucial For peace of mind in Equity Release schemes

Since 1965, Equity Release mortgages have undergone regulation and change. As vulnerable members of society, people over 55 are considered in Equity Release plans. All plans recommended by The Equity Release Company meet the standards set by the Equity Release Council and the Financial Conduct Authority, and are presented in a format that allows for comparison with competitors.

The Financial Ombudsman Service (FOS)

Equity Release Advisers

Equity Release Council

Equity Release Solicitors

The Financial Ombudsman Service (FOS)

Lifetime mortgage schemes were regulated by the Financial Conduct Authority (formerly FSA) in October 2004, with Home Reversion schemes following in April 2007. This ensures rules are followed & Equity Release schemes fully protected. Should a future complaint arise redress can be sort from the Financial Ombudsman

The Financial Ombudsman Service (FOS)

Is an agency for the arbitrating of unresolved complaints between regulated firms and their clients. Full details of the FOS can be found at www.financial-ombudsman.org.uk.

Equity Release Advisers

Should be fully qualified and must hold the relevant Equity Release examinations. Depending on the examination body CII or LIBF (formerly IFS) these will include the core Lifetime Mortgage qualifications:

Certificate in Mortgage Advice and Practice (CeMAP)
Certificate in Regulated Equity Release (CeRER)
CF1, CF6 and ER1

loan agreement, real estate agent or bank officer describes the loan interest to the customer, along with loan documents with a home style pen and a replica money on a wooden table.

Equity Release Council

Started in May 2012 and replacing SHIP (Safe Home Income Plans set up in 1991) the Equity Release Council, ERC for short, the Council was set up to replace SHIP and represents the leading providers of Equity Release plans. ERC members have agreed to a code of practice and guarantees to protect clients:-

Clear and transparent documents
Clear and transparent charges
A no Negative Equity Guarantee – you can never owe more than the value of your property
A Lifetime Tenancy – a permanent right of occupation whilst you are living there, you cannot be asked to leave your home
Your Choice of Solicitor who undertakes the Legal work and signs an ERC certificate confirming that the Equity Release scheme, its advantages and disadvantages, have been explained to you
Portability– freedom to transfer the Equity Release loan to a new suitable property

happy aged couple consulting with insurance agent at home

The Equity Release Company Financial Advice Fee

Equity Release Solicitors are required to conduct the Legal aspect of any application. To meet ERC guidelines they must always be independent of the Lifetime Mortgage lenders solicitor. To ensure speed & quality of transaction we would always recommend you instruct a solicitor who is a member of ERSA (Equity Release Solicitors Alliance). ERSA offers access to specialist solicitors who take the applicant through the Equity Release process.

Free, No-obligation advice

Unlock your home's equity today

Whether you're looking to make home improvements, pay off debt, or simply enjoy your retirement to the fullest, equity release can help. Our team are here to guide you through the process and help you make the best decisions for your unique situation. Fill out our form today to get started.