equity release council certificate

6. All of our members have agreed to abide by the Council rules and have signed up to the Statement of Principles. About us Your privacy Terms and conditions Contact us Equity Release Council . Each rule is accompanied by a set of guidance or activities which will help a member firm demonstrate compliance with the rules. The Equity Release Council certificate will clearly state the main cost the householder’s assets and estate e.g. 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. MOVING HOUSE. By signing the certificate, solicitors acknowledge that the essential features and implications of that plan have been brought to the attention of the purchaser. SHIP (Safe Home Income Plans), today announces clarification of their safeguards to the equity release sector through a change to the SHIP certificate.Alongside the existing protection provided by the certificate, solicitors working on an equity release case must now sign a clause asserting their independence from the lender and the financial adviser, confirming that they have received nor offered any financial remuneration to the adviser or intermediary from the transaction. The bitesized sessions will cover key skills such as social media marketing and generating leads alongside … All Rights Reserved. All members in the associates category have an interest in the equity release market and some are direct contributors to the sales and advice process. We will also give you the results of your state benefits entitlement check and notify you if the ones you qualify for could be affected by an equity release plan. Reviews. 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. You will earn 30-minutes CPD as we cover: The relevance of health to Lifetime Mortgages Understanding … an Equity Release Council recognised certificate, when they are satisfied that you fully understand your rights, obligations and benefits. That figure amounts to an average of £11 million each day over the summer months – an increase from £911m in Q2 of 2019 to £988m in Q3. The ERC Code of Practice 1. the loan amount repayable on death, whether part or all of the property is being sold. For free initial advice call: 01202 416856 or 07862 708429 . Customers have the right to move their plan to another suitable property without any financial penalty. Request a Callback 0800 411 8668. Give customers a no negative equity guarantee on all equity release plans. What areas of the UK do you cover? Provide an Equity Release Council certificate, signed by the solicitor, to ensure clients are aware of the terms and implications of the plan including the impact of equity release on their estate. Once you have decided to proceed with your Equity Release, you will then need to instruct your Solicitor. We are specialists in advising the older client, qualified to the highest levels and passionate about giving correct advice and help. The Equity Release Council certificate signed by the solicitor is there to ensure clients are aware of the terms and implications of the plan including the impact of equity release on their estate. Equity Release Council is a consumer trade body - Equity Release Bournemouth. Equity Release Explained Your options The options for equity release FAQs About us. When I made the decision to become an independent and whole of market adviser over 3 years ago I completed the equity release certificate and Financial Planning Diploma Level 4 (QCF) as part of my commitment in providing high standards of later life lending and equity release advice. Legal firms who are members and well experienced in this particular field are also listed in our member directory. The Old Rectory Join us for our third event in our Equity Release webinar series ‘personalisation; customer benefit or advice dilemma’ where we will be looking at the advice considerations relating to your client’s Health and Lifestyle. Therefore, if your property is worth less than the outstanding balance owed to the lender, the lender will enforce the No Negative Equity Guarantee and your estate will only owe the sum your property sells for. These can be sat at over 150 locations throughout the UK. Equity release allows individuals aged 55 and over to release money from the property they live in without having to make any monthly repayments. The SHIP certificate already clearly states the main cost to the householder’s assets and estate.A SHIP equity release plan cannot proceed without a signed certificate. ©2020 Equity Release Council. OneFamily is to host a free virtual masterclass and Q&A session with David Burrowes, the chairman of the Equity Release Council. NN6 8SN. Customers taking out equity release from a SHIP member can be sure that they are taking on a regulated equity release plan from a reputable provider.”, Mortgage Introducer has published an article following the Council's appointment…, Summary Average rates for equity release products reached record lows…, The Equity Release Council (the Council) has broadened its industry…, Equity Release Council Evans will be one of the experts ensuring the new material covers the changing market requirements and will also sit on the Equity Release Council Standards Board. The Old Rectory That way you’re clear on everything. Is equity release right for me? 6. His qualifications include Cert CII (MP) a CII Mortgage Professional; LIBF Adv CeMAP the Advanced Certificate Mortgage Advice & Practice and LIBF CeRER the Certificate in Regulated Equity Release. View all; Q&A Videos. Stay at Home … It is probably wise to instruct a Solicitor who is local to you as your Solicitor will need to meet with you face to face during the transaction. Feefo has … Here at Brethertons, we are proud members of the Equity Release Council and operate exclusively under their principles. How much equity can I release? The Equity Release Council’s code of practice ensures that all member companies provide a full and easy to understand presentation of their plans. Please always check with providers on rates and commissions before submission as these can change without notice. It is a key criterion for those Equity Release providers who are members of the Equity Release Council that both they and the customer have separate legal representation. Andrea Rozario, Director General of SHIP, commented on the change: “The SHIP certificate makes it clear that there is to be no remuneration between advisers and solicitors. This is primarily to avoid any conflict of interest between the parties and to ensure that the customer has independent advice. Although this already part of the SHIP code of conduct, this clarification of the safeguard leaves no room for misunderstanding. What safeguards does the Equity Release Council offer? Evans (pictured) will be chief examiner for the level three Certificate in Regulated Equity Release (CeRER) at the London Institute of Banking & Finance. The new exams take effect in January 2020. 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. Providers are firms that are authorised by the financial services regulator to provide regulated lifetime mortgages and/or home reversion plans. NOTE "Premier Equity Release Club" does not offer financial conduct regulated advice. All Rights Reserved. He is a Qualified Member of the Chartered Insurance Institute (CII), The London Institute of Banking & Finance (LIBF) and The Equity Release Council (ERC). Affiliate members are those who have an interest in the UK equity release market. All our Advisers are qualified in both CeMAP (Certificate in Mortgage Advice and Practice) and CeRER (Certificate in Regulated Equity Release), and so, fully compliant with the Financial Conduct Authority’s regulatory requirement to advise on Equity Release plans. There are two types of equity release; Lifetime Mortgages and Home Reversion plans. 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. Council is a set of guidance or activities which will help a member firm demonstrate compliance with full! ) support your customers to Release value in their homes with the rules Burman Road Shirley. 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