The Equity Release Council has launched its updated industry standards, in the largest evolution since the organisation was established in 2012 as the representative trade body for the UK equity release sector.

The update introduces an approach based on principles and consumer outcomes, which reflects the latest thinking in financial services regulation and complements the existing rules, safeguards and protections. It sets the benchmark for best practice by providing a higher level of consumer protection than any other form of property-based loan. Its purpose is to ensure that equity release products and services continue to deliver good outcomes for customers, who face increasingly complex decisions in an evolving later life market and regulatory landscape.” Read more

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