the loan amount repayable on death, whether part or all of the property is being sold. Equity release allows individuals aged 55 and over to release money from the property they live in without having to make any monthly repayments. … Solicitors work on both sides of an equity release contract and consumers and providers must each have their own legal representation. Equity release allows individuals aged 55 and over to release money from the property they live in without having to make any monthly repayments. All members are required to be aware of and comply with the full set of rules. He is a Qualified Member of the Chartered Insurance Institute (CII), The London Institute of Banking & Finance (LIBF) and The Equity Release Council (ERC). 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. Church Lane Thornby Providers are firms that are authorised by the financial services regulator to provide regulated lifetime mortgages and/or home reversion plans. Members display the Equity Release Council’s logo on their literature as a guarantee to their customers that they observe the code of practice. They will need to advise you on all of the … All of our members have agreed to abide by the Council rules and have signed up to the Statement of Principles. the loan amount repayable on death, whether part or all of the property is being sold. When you finish your CeRER course and pass your … 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. 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. NN6 8SN. 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. The level 3 Certificate in Equity Release meets the FCA’s requirement for mortgage advisers and those advising on equity release schemes. The Old Rectory 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. The Equity Release Council certificate will clearly state the main cost to the householder’s assets and estate e.g. 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. Michael Usher Mortgage Services Ltd is an appointed representative of HL Partnership … 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. Premier Equity Release Club is a trading style of Perrett ERC Ltd. 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. NN6 8SN. 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. Each rule is accompanied by a set of guidance or activities which will help a member firm demonstrate compliance with the rules. Aviva – Health and Lifestyle webinar – CPD certificate available. That way you’re clear on everything. Equity Release Council Affiliate members are those who have an interest in the UK equity release market. NOTE "Premier Equity Release Club" does not offer financial conduct regulated advice. We are the industry body for the UK equity release sector; representing the providers, qualified financial advisers, solicitors, intermediaries. Here at Brethertons, we are proud members of the Equity Release Council and operate exclusively under their principles. E.g. Guidance notes for stay at home process. The Equity Release Council (ERC) exists to promote high standards of conduct and practice in the area of advice on equity release products. 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. 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. 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. “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. 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 … Did You Know? an Equity Release Council recognised certificate, when they are satisfied that you fully understand your rights, obligations and benefits. 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 If everything is good with you, your adviser will … 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. Bathgate, … Certificate in Regulated Equity Release (CeRER) Support your customers to release value in their homes with the appropriate equity release schemes. 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. For free initial advice call: 01202 416856 or 07862 708429 . Certificate in Regulated Equity Release (CeRER) Support your customers to release value in their homes with the appropriate equity release schemes. Request a Callback 0800 411 8668. This amendment is subject to an ongoing review and the Equity Release Council will notify its members and the wider sector of any changes. 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. Knowledge is assessed in a 2-hour multiple choice exam. 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. 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. how the loan amount will change, or whether part or all of the property is being sold. 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. LiveMore Capital joins ERS panel. The new exams take effect in January 2020. There are two types of equity release; Lifetime Mortgages and Home Reversion plans. Please always check with providers on rates and commissions before submission as these can change without notice. Legal firms who are members and well experienced in this particular field are also listed in our member directory. Below you will find several resources including a video, a process chart, guidance notes and solicitors certificates to support the amendment. Give customers a no negative equity guarantee on all equity release plans. Is equity release right for me? 6. This amendment is subject to an ongoing review and the Equity Release Council will notify its members and the wider sector of any changes. What safeguards does the Equity Release Council offer? Why choose Bread and Butter Advice? » Make sure you are … Registered office 96 Burman Road, Shirley, Solihull B90 2BQ. New course content includes … Our Equity Release specialist brokers are fully qualified and have completed the Certificate in Regulated Equity Release … 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 that support the amendment. 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. We are specialists in advising the older client, qualified to the highest levels and passionate about giving correct advice and help. or email: julia@equity-release.property × Home Page Equity Release Explained. Stay at Home … 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. Equity Release Explained Your options The options for equity release FAQs About us. This equity adviser course is split into two units and assessed within one module. This means customers will never owe more than the value of their home and no debt will ever be left to the estate. This is primarily to avoid any conflict of interest between the parties and to ensure that the customer has independent advice. There are two types of equity release; Lifetime Mortgages and Home Reversion plans. All Rights Reserved. File size: 152 KB | Type: pdf | Resources. These can be sat at over 150 locations throughout the UK. 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 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. The Equity Release Council’s code of practice ensures that all member companies provide a full and easy to understand presentation of their plans. Support the amendment 90 % of the property is being sold their principles - Equity Release Council operate. 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