Claire Singleton, CEO of Legal & General Home Finance: “The equity release sector has transformed in recent years, with more choice, better rates and improved consumer protection. The continued raising of industry standards has been a big factor in this shift, so it is great to see the ERC launch a new competency framework to help guide advisers.
“Property wealth is becoming more and more important to people when they plan their retirement. The framework will be a useful resource for advisers to help them provide high-quality, consistent advice to all consumers, which is in line with regulatory requirements and the Council’s additional standards.
“We know that the financial difficulties caused by the COVID-19 pandemic have left many people re-thinking their retirement plans.
Releasing equity from their homes could give some people more options and flexibility to their planning, so it’s important that advisers are able to help homeowners consider equity-release as a product and ensure they understand it fully.”
|