equity release council checklist for advisers

The Council's adviser checklist has been expanded from 12 to 24 points. Latest News. More about the Equity Release Council . Prior to this he was an Expert Adviser at the Department for Work and Pensions, initially supporting Lord Freud, then Welfare Reform Minister. If you’d like to talk to us about equity release, there’s no one better to speak to than your local Equity Release Supermarket adviser. We’ve put together a checklist of what we think makes a good adviser. 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. 2. A new Checklist for Advisers has been issued to adviser-members following a review by the Council… Equity Release Marketing Hub A variety of materials and content which will help you stay up-to-date with the latest trends in the lifetime mortgage market. The Equity Release Council (the Council) has launched a Best Practice Guide for advisers to complement its Checklist and support firms when discussing and documenting customer needs. I’ve served Equity Release clients for over 15 years. The Equity Release Council has introduced a Best Practice Guide to sit alongside its Checklist for Advisers and support firms when discussing and documenting customer needs. I provide a FREE consultation by safe home visit, phone, or zoom, so please do call me now! News. The Equity Release Council (ERC) has updated its adviser checklist, highlighting some of the most important factors to consider during the advice process to ensure its rigorous standards are met. There is a great deal of choice. Adviser members of the Equity Release Council will have access to accredited training as part of a partnership with the Later Life Academy from April. Therefore choosing the right adviser is important. It covers the most significant points to consider in the advice process and when you’re assessing the customer’s suitability for equity release. Equity Release Council proposes refreshed adviser competency framework by: Victoria Hartley. The guide has been produced by the council’s standards board, drawing on decades of experience from expert adviser members representing a variety of firms in the market. Read more. Originally launched in 1991, the Equity Release Council (ERC) is an organisation that is supported by the leading providers of equity release within the UK. We’ve had several reports of fraudsters using bonds and ISA products to target people looking for a better return on their money. Our latest Adviser Barometer survey shows that the overall picture is one of resilience, pragmatism and above all, a willingness to adapt working patterns as and when necessary . Equity Release Council – Checklist for Advisers Best Practice Guide 09 Dec 2020 / in News & Training / by Nicola Malone The new guide can be read by clicking on the below link. The following is a set of Rules & Standards which apply to all Equity Release Council Members. Adviser members must now complete an extended checklist, which has been increased from 12 to 24 points. The Equity Release Council has made an update to a key safeguard that highlights some of the most important factors to consider during the advice process and ensures its standards are met. You will need to share a lot of information with your adviser and feel comfortable asking questions. No Negative Equity Guarantee As a member of the Equity Release Council, we offer a 'No Negative Equity Guarantee'. Toggle navigation. The Equity Release Council has launched a Best Practice Guide to complement its Checklist for Advisers and support firms when… - Read More . The Equity Release Council is urging to advisers to ‘respectfully and robustly’ challenge clients’ motivations when looking for lending solutions in its new Best Practice Guide, published today. The Equity Release Council (the Council) has launched a Best Practice Guide to complement its Checklist for Advisers and support firms when discussing and documenting customer needs. The Equity Release Council (ERC) increased its checklist for advisers from 12 to 24 points with an extra focus on vulnerable customers and those who are remortgaging. He joined from Reform think tank, where he was Deputy Director and Head of Research. The Equity Release Council (ERC) has updated its checklist for advisers to include extra focus on vulnerable and remortgaging customers as well as those consolidating debt. Member brokers will be required to follow the guidelines from January 1 2014 but chairman Nigel Waterson stated most advisers will be well equipped to handle the changes. Dec 11, 2020 ; Insight. The Equity Release Council has published a ‘best practice’ guide for advisers to ensure consumers receive a quality service and that case files capture sufficient details. At 55 Plus Equity Release, we always act in our clients’ best interests; we will only recommend equity release if we believe it is a good option for them, and we scour the market to find a product that most closely matches their personal circumstances. Our national team of equity release advisers would be more than happy to meet you in the comfort of your own home or talk more over the phone - you choose whichever suits best. Keep your clients safe from investment scams. It was created to promote safe equity release products and to safeguard the interests of homeowners. The Equity Release Council stated the list does not replace a full fact find or suitability letter but will help brokers assess customer suitability for equity release. Equity release mortgages are now more robust than ever following the Equity Release Council’s decision to expand its checklist for mortgage advisers – a guide to help mortgage brokers decide whether or not an applicant is suited to an equity release product – from 12 to 24 points. Equity release is just one option in retirement financial planning and our role is to ensure that all alternatives are reviewed to ensure that you receive the best advice to achieve your goals. Equity release advice can save you money. 26/04/2019 • 0; At its AGM this week, the Equity Release Council (ERC) confirmed plans to review the advice competency framework for brokers entering the market for the first time. The Equity Release Council has launched a Best Practice Guide to complement its Checklist for Advisers. The Equity Release Council. Amanda is a member of the Equity Release Council which is put in place for your protection and peace of mind. Equity release advisers will soon be able to benefit from a development programme launched by the Equity Release Council, which could include being teamed up with a mentor. Putting our equity release clients first . 17 Nov 2020. The Equity Release Council has expanded its checklist for advisers on what to consider during the advice process and the assessment of a client’s suitability for equity release. In the guide extra focus is put on customers who may be vulnerable such as having physical or mental health issues, bereavement, divorce, emotional or financial issues, poor literacy or numeracy. Property Market; Firms & People; Organisations; Insight; Fraud; See All; Equity Release Council publishes Best Practice Guide for advisers . 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. Equity Release Council We’re a member of the Council and therefore offer additional features to safeguard our lifetime mortgages. The projects, announced at the Annual General Meeting (AGM), include a competency framework to guide industry professionals on the journey from entering the market to competent … Equity Release Council – Our Rules and Guidance – Introduction. Preferred clients Minimum mortgage value £0 Advice methods Telephone Online (Live chat, video, email) Face to face Croft House, 21D, Station Road, Knowle, Solihull, B93 0HL Similar advisers near you The Right Broker Mortgage Broker 0.19 mi. Subscribe To Our FREE Weekly Newsletter. When you seek equity release advice, your adviser will explain the difference between the products and recommend the best option for you. The Equity Release Council has launched a Best Practice Guide… - Read More . The detailed guide has been produced by the Council’s Standards Board, drawing on decades of experience from expert adviser members representing a variety of firms in the market. All members are required to be aware of and comply with the full set of rules. Council publishes Best Practice Guide for advisers. The updated checklist was issued to adviser members following a review by the council’s standards board, informed by conversations with major stakeholders over several months. Our Equity Release Knowledge Hub is full of reports and documents from both the Council and the wider Sector. The Equity Release Council has launched initiatives to help new and existing practitioners in the growing equity release market, and is discussing the options of future vocational qualification programmes. The detailed guide has been produced by the Council’s Standards Board, drawing on decades of experience from expert adviser members representing a variety of firms in the market. Later Life Equity Release Council expands adviser checklist. Each rule is accompanied by a set of guidance or activities which will help a member firm demonstrate compliance with the rules. More about the Equity Release Marketing Hub. The Equity Release Council has launched a Best Practice Guide to support firms when discussing and documenting customer needs. Checklist for Advisers APPENDIX C 1 Appendix C – Equity Release Council - V9.2 – May 2020 This updated guide is designed to provide you with direction when you are advising customers on equity release. 9 Dec 2020 . If you are keen to investigate equity release, how to choose your equity release adviser? Half of women approaching retirement are worried about running out of money in later life. Read more. It also publishes an adviser checklist detailing 13 of the most significant points to consider in the advice process when assessing any customer’s suitability for equity release. 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