The Equity Release Council (ERC) exists to promote high standards of conduct and practice in the area of advice on equity release products. 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. Customers have the right to move their plan to another suitable property without any financial penalty. Why choose Bread and Butter Advice? Reviews. This amendment is subject to an ongoing review and the Equity Release Council will notify its members and the wider sector of any changes. The ERC Code of Practice 1. Feefo has … Michael Usher Mortgage Services Ltd is an appointed representative of HL Partnership … Download. Bathgate, … 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. Equity release allows individuals aged 55 and over to release money from the property they live in without having to make any monthly repayments. Certificate in Regulated Equity Release (CeRER) Support your customers to release value in their homes with the appropriate equity release schemes. Can't find what you're looking for? 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. Aviva – Health and Lifestyle webinar – CPD certificate available. The Old Rectory What safeguards does the Equity Release Council offer? 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. 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. The Certificate in Regulated Equity Release (CeRER) is an RQF level 3 qualification accredited by Ofqual and awarded by the London Institute of Banking & Finance. an Equity Release Council recognised certificate, when they are satisfied that you fully understand your rights, obligations and benefits. Here at Brethertons, we are proud members of the Equity Release Council and operate exclusively under their principles. Knowledge is assessed in a 2-hour multiple choice exam. Is equity release right for me? 6. 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. We are the industry body for the UK equity release sector; representing the providers, qualified financial advisers, solicitors, intermediaries. There are two types of equity release; Lifetime Mortgages and Home Reversion plans. Its roles include: Offering you all the information you might demand on … All of our members have agreed to abide by the Council rules and have signed up to the Statement of Principles. The bitesized sessions will cover key skills such as social media marketing and generating leads alongside … NN6 8SN. 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. Each rule is accompanied by a set of guidance or activities which will help a member firm demonstrate compliance with the rules. 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. Below you will find several resources including a video, a process chart, guidance notes and solicitors certificates that support the amendment. Preview. 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. In addition to developing advisory skills, the Certificate offers an understanding of equity release regulation, products, market practice, and customer needs. Church Lane Thornby The level 3 Certificate in Equity Release meets the FCA’s requirement for mortgage advisers and those advising on equity release schemes. The Equity Release Council’s Donna Bathgate and David Burrowes want qualifications to be changed so advisers have a broader view of later life lending options. What is the Equity … E.g. They want more advisers to be able to refer customers to different products where appropriate – whether the right product is a residential, equity release or retirement interest-only mortgage – rather than operating in solos. The Equity Release Council certificate will clearly state the main cost to the householder’s assets and estate. Evans (pictured) will be chief examiner for the level three Certificate in Regulated Equity Release (CeRER) at the London Institute of Banking & Finance. Solicitors work on both sides of an equity release contract and consumers and providers must each have their own legal representation. ©2020 Equity Release Council. About us Your privacy Terms and conditions Contact us Equity Release Council . Proportion of over-55s worried about running out of money in retirement increases to over a third (34%) over the last... Advisers are central to the process of considering, evaluating and entering into an equity release contract and their advice is a requirement of the Financial Conduct Authority. LiveMore Capital joins ERS panel. Equity release allows individuals aged 55 and over to release money from the property they live in without having to make any monthly repayments. Did You Know? File size: 152 KB | Type: pdf | Resources. 09 Dec 2020 - 4:46 pm. Once you have decided to proceed with your Equity Release, you will then need to instruct your Solicitor. Church Lane Thornby This equity adviser course is split into two units and assessed within one module. Although this already part of the SHIP code of conduct, this clarification of the safeguard leaves no room for misunderstanding. All Rights Reserved. The Equity Release Council’s code of practice ensures that all member companies provide a full and easy to understand presentation of their plans. 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. Always look out for our logo on their literature and whichever legal adviser you choose ask them about what experience they have in this area. All members are required to be aware of and comply with the full set of rules. These can be sat at over 150 locations throughout the UK. It will be part of a series of thirty-minute webinars for advisers, which the lifetime mortgage provider will be running from Monday 23 November for two weeks. 6. The new exams take effect in January 2020. the loan amount repayable on death, whether part or all of the property is being sold. By signing the certificate, solicitors acknowledge that the essential features and implications of that plan have been brought to the attention of the purchaser. Give customers a no negative equity guarantee on all equity release plans. 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. Registered office 96 Burman Road, Shirley, Solihull B90 2BQ. the loan amount repayable on death, whether part or all of the property is being sold. 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. You will earn 30-minutes CPD as we cover: The relevance of health to Lifetime Mortgages Understanding … 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. Equity Release Explained Your options The options for equity release FAQs About us. NOTE "Premier Equity Release Club" does not offer financial conduct regulated advice. “This updated certificate provides advisers with a solid grounding in everything they need to know about the market, products and regulations to enable them to give their customers the best advice possible – with practical examples that really help bring this to life.” A digitally enhanced course site has been developed which includes videos, quizzes and animations. Please always check with providers on rates and commissions before submission as these can change without notice. For lifetime mortgages which meet Equity Release Council standards, your estate will never owe more than your properties worth. He is a Qualified Member of the Chartered Insurance Institute (CII), The London Institute of Banking & Finance (LIBF) and The Equity Release Council (ERC). The following is a set of Rules & Standards which apply to all Equity Release Council Members. MOVING HOUSE. To maintain these high standards in equity release advice I am a member of the Equity Release Council and I am … In 2019 the London Institute of Banking & Finance invited me to become an ‘Item Reviewer’ for the Certificate Regulated in Equity Release (CeRER®), which involves periodically reviewing the question bank for candidates. All Rights Reserved. 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. New course content includes … 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. How much equity can I release? The Council represents the providers, qualified financial advisers, solicitors, intermediaries and surveyors who work in the equity release sector. Guidance notes for stay at home process. The Old Rectory 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. 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. Members display the Equity Release Council’s logo on their literature as a guarantee to their customers that they observe the code of practice. ©2020 Equity Release Council. Equity Release Council is a consumer trade body - Equity Release Bournemouth. All Equity Release Council plans carry a no negative equity guarantee. Legal firms who are members and well experienced in this particular field are also listed in our member directory. Bower uses an independent review service with an unsurpassed reputation for delivering genuine customer feedback. Below you will find several resources including a video, a process chart, guidance notes and solicitors certificates to support the amendment. Tapping into the … Updated Certificate in Regulated Equity Release – full details revealed 04 November, 2019 Heather Tilston The London Institute of Banking & Finance has revealed full details of the changes being made to its Certificate in Regulated Equity Release (CeRER), which is now live on its website. Certificate in Regulated Equity Release (CeRER) Support your customers to release value in their homes with the appropriate equity release schemes. This amendment is subject to an ongoing review and the Equity Release Council will notify its members and the wider sector of any changes. Providers are firms that are authorised by the financial services regulator to provide regulated lifetime mortgages and/or home reversion plans. If everything is good with you, your adviser will … OneFamily is to host a free virtual masterclass and Q&A session with David Burrowes, the chairman of the Equity Release Council. Our Membership Hub represents the interests of 90% of the Equity Release sector. There are two types of equity release; Lifetime Mortgages and Home Reversion plans. They will need to advise you on all of the … 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. Stay at Home … how the loan amount will change, or whether part or all of the property is being sold. » Make sure you are … So, it looks like property is going to play a large part in funding later life in the future the way that a pension has traditionally in the past. … NN6 8SN. View all; Q&A Videos. Our Equity Release specialist brokers are fully qualified and have completed the Certificate in Regulated Equity Release … Certificate in Regulated Equity Release (CeRER) 6 July 2020: Certificate in International Trade Finance (CITF) 6 July 2020: Certificate in Retail Banking Conduct of Business (CertRBCB) 3 August 2020: Certificate in SME Lending and Alternative Data (CSME) 17 August 2020: Certificate in Trade Finance Compliance (CTFC) 1 September 2020: Certificate in Automotive Finance Specialists … The Equity Release Council certificate will clearly state the main cost to the householder’s assets and estate e.g. or email: julia@equity-release.property × Home Page Equity Release Explained. What areas of the UK do you cover? The Equity Release Council certificate will clearly state the main cost the householder’s assets and estate e.g. When you finish your CeRER course and pass your … Request a Callback 0800 411 8668. Company number 11699580 If equity release is recommended then we’ll show which plans you qualify for, which one we suggest for you, exactly how much you could release and all the costs involved. For free initial advice call: 01202 416856 or 07862 708429 . 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 … We are specialists in advising the older client, qualified to the highest levels and passionate about giving correct advice and help. 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. 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. Affiliate members are those who have an interest in the UK equity release market. 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. This means customers will never owe more than the value of their home and no debt will ever be left to the estate. That’s according to a report from the Equity Release Council published in the last week of October. Premier Equity Release Club is a trading style of Perrett ERC Ltd. This is primarily to avoid any conflict of interest between the parties and to ensure that the customer has independent advice. That way you’re clear on everything. 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