Adviser network Personal Touch Financial Services has joined the Equity Release Council.
Latest figures from the Council show the sector saw annual growth in lending of 77% to £697m in Q1 2017. The unprecedented growth is said to be driven in part by a 61% rise in the number of new plans.
Vikki Jefferies, head of propositions at Personal Touch, said: “The equity release market is extremely buoyant at present, and understandably so. Freeing up equity from your home is an effective and efficient way of funding retirement and accessing tied up cash. However, it is imperative that it is undertaken with the highest standards of advice and secure solutions.
“In order to shape this market going forward and ensure the very best outcomes for consumers it is essential that we have a voice and a platform to share our views. The Equity Release Council is that platform and we are delighted to be part of it.
“For five years the Council has been the voice of the industry and I’ve no doubt our members will benefit greatly from our partnership, not least from the wide range of educational resources and workshops that will now be on offer to them.”
Nigel Waterson, chairman of the Equity Release Council, added: “The Council has seen its membership rapidly rise in recent years as the market has grown, and we are delighted to welcome Personal Touch to the growing ranks of firms who sign up to the principles and best practice which ensure a safe and reliable market for consumers.
“We are committed to working with members to increase the reach of equity release advice, so that more homeowners can make informed decisions about how best to call on their various assets in later life. There is great potential for our sector to help meet the socio-economic challenges facing the UK and serve an increasingly diverse customer base. Both new and existing members have a vital role to play in making this happen.”
