29 dez equity release council
It was initially recognised as Safe Home Income Plans, or SHIP until it was re-launched in 2012 and broadened its reach from equity release providers to financial advisers. Equity release overview It's safe. Members display the Equity Release Council’s logo on their literature as a guarantee to their customers that they observe the code of … Consumers and the businesses that serve them are strongly urged to follow health advice from Government and public health bodies to safeguard personal health and well-being and to support the individual, national and global response to the pandemic. The Equity Release Council has made the double appointment of a membership and business development manager and public affairs manager. The Equity Release Council is an organisation dedicated entirely to the protection of over 55 equity release plan holders and the promotion of safe home income and equity release plans.. Equity Release Council code of conduct. All Council staff and key contractors are working from home. Council Chairman David Burrowes has issued a statement following our covid-19 response consultation, which is available by clicking here. Merry Christmas and a Happy New Year from everyone at…, Mortgage Introducer has published an article following the Council's appointment…, Proportion of over-55s worried about running out of money in…, Equity Release Council ©2020 Equity Release Council. ... With this in mind, your house is generally your largest asset. Equity release is, in a nutshell, a way to unlock the value of your property and turn it into a cash lump sum. The council has recruited Lorraine Cox as membership and business development manager. EQUITY RELEASE COUNCIL - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity The council represent the Equity Release sector, promoting high standards of conduct and practice on advice of Equity Release. equity release today does not provide advice on equity release products and acts only as a referral partner for fca approved equity release advisers, who are authorised to give advice on equity release by the financial conduct authority. It prompts advisers to recommend that customers review or set up a will and seek advice from a solicitor or qualified person if they do not have a Power of Attorney. 1. The Council has published a Covid-19 update from OneFamily which is available here. 55 Plus Equity Release is a member of the Equity Release Council. 27% To gift to family ( living inheritance) The Council has published general covid-19 information here as well as updates from L&G and Just. The Equity Release Council has updated a key safeguard that highlights some of the most important factors to consider during the advice process and ensures its rigorous standards are met. Church Lane Thornby Members of the Council include providers, legal practitioners, surveyors, funders and a growing variety of advice firms – all of whom sign up to the Council’s best practice Standards of consumer protection. Equity Release products are available if you are a homeowner aged between 55 and 95. No Negative Equity Guarantee As a member of the Equity Release Council, we offer a 'No Negative Equity Guarantee'. A new Checklist for Advisers was issued to adviser-members following a review by the Council’s Standards Board which was informed by conversations with major stakeholders over several months. “We are continually reviewing our standards, and this latest version of the Checklist will support advisers in taking a personalised approach to each customer. The Equity Release Council is a self-regulated non-profit organisation that safeguards the interests of homeowners and specialises in all things equity release-related. The equity release council is a trade organisation that represents the equity release industry. It was initially recognised as Safe Home Income Plans, or SHIP until it was re-launched in 2012 and broadened its reach from equity release providers to financial advisers. Click here to download the Checklist itself. effect on 1 January 2020. The Council has received a response from the FCA after it called for a clarification on the regulator’s work from home guidance for advisers. NN6 8SN. Prior to FCA regulation, many lenders signed up to Equity Release Council (ERC) formerly known as Safe Home Income Plans (SHIP), a voluntary code of conduct that provides a number of guarantees. Equity release may impact Pension Credit, Council Tax Discount and Universal Credit EQUITY release may be an appropriate option for those who … All Rights Reserved. Council Chairman, David Burrowes, has issued a statement to consumers to update them on our response to the Covid-19 pandemic, which is available by clicking here. They are available to non-members. Last week’s webcast on non face-to-face legal advice is now available for non-members. They represent the lifetime mortgage providers, solicitors and financial advisers. All firms advising on or selling equity release have to be regulated by the Financial Conduct Authority (FCA). Members can read further information by clicking here. 9 Dec 2020. Even if the future value of your client's home is less than the amount they owe, their estate will never be left with a debt from our lifetime mortgage products when your client dies or goes into permanent residential care and their house is sold. There are two models, face to face and telephone advice, both aimed at protecting the interests of the customer leading to the most appropriate and correct solution for each individual enquiry. A lifetime mortgage or equity release is the process of releasing money tied up in your property. Equity Release Council – Our Rules and Guidance – Introduction The following is a set of Rules & Standards which apply to all Equity Release Council Members. These articles first appeared in our newsletter. Further details are available by clicking here (members only). We also call on more advice firms to sign up to these best practice standards”. All Rights Reserved. Meanwhile, the Council is consulting with members – including legal practitioners, advisers and providers – about changes to face-to-face advice requirements. NN6 8SN. The Equity Release Council has launched a Best Practice Guide to help advisers ensure they cover all bases when speaking to clients and documenting their needs. Where a customer is re-mortgaging onto a lower interest rate or to release further capital, the checklist captures the need for a detailed analysis of features and benefits to compare the existing and recommended new plan. the information on this website is intended for guidance purposes only and does not constitute advice. Council publishes Best Practice Guide for advisers. The new Checklist builds on an update of the Council’s rules and guidance, which came into This provides protection, security and access to the Financial Services Compensation Scheme if you ever need it. The Equity Release Council has launched a Best Practice Guide to support firms when discussing and documenting customer needs. The Equity Release Council aims to protect the customer by putting safeguards and guarantees in place so that the customer has better knowledge, treated fairly and able to confidential make their decision if equity release is right for them. “Coupled with independent legal advice and product safeguards, this financial advice process provides the highest level of consumer protection for any later life property-based loan. Equity Release can free up funds for home improvements, tidying up your debts, increasing your income or even helping your children or grandchildren to get onto the property ladder. Church Lane Thornby For your safety, we only work with providers who are registered with the Equity Release Council, the recognised industry body for equity release. The ballot for directors’ positions on the Council’s main board is now open and details can be found by clicking here (members only). This latest edition was produced in July 2020 using data from customer activity during the second quarter of this year (April to June). All firms are expected to treat customers fairly, in accordance with Council principles and those of their respective regulators, with respect to health considerations and additional financial pressures that may arise from the pandemic. Only advisers holding membership of the Equity Release Council promise to follow our stringent Statement of Principles for your added peace of mind. My 80-year-old widowed Mother-In-Law purchased the property outright in 2002 and lives off the basic state pension. CONTACT US. Reasons people use Equity Release. Equity Release Council makes double appointment It was designed to ensure consumers receive a high-quality and personalised service from their … Chris Pond, Chairman of the Council’s Standards Board, said: “This updated Checklist captures the most important points to cover from FCA regulations and Equity Release Council Standards. The webcast features Council Chair David Burrowes, the Council’s Standards Board Chair Chris Pond and the MD of Equilaw Claire Barker. The comprehensive checklist is designed to complement customer-facing documents, including fact finds and suitability reports, and support a consistent standard of advice for consumers across the market. Over the course of almost 30 years, the Equity Release Council continues to represent the equity release sector and exists to promote high standards of conduct and practice in the provision of and advice on equity release which have consumer safeguards at its heart. 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