What Regulations are in Place to Protect the Consumer.

Consumer protection is paramount for financial products, Equity Release plans are no exception and given the fact that it is a product that affects the quality of life in retirement these regulations are both stringent and enthusiastically enforced.

The Financial Conduct Authority (FCA) is the body that is responsible for these regulations which cover all aspects of Equity Release, this includes;

  • The actual products and product providers themselves
  • How equity Release is advertised
  • The conduct of the Equity Release providers
  • Ensuring those that advise on Equity Release are qualified to a specified standard
  • Making sure all the paperwork used meets appropriate standards

The FCA register is a fully searchable public website that allows you to easily check that the company or individual advising you is qualified to do so.

Video courtesy of Dennis Perry at The Right Equity Release.

Although not a regulator the Equity Release Council is the professional body for all those involved in the Equity release sector. as well as being open to advisers, solicitors and others involved in the product arranging process, it is committed to maintaining high standards of integrity and is an excellent resource for anyone wanting to know more about Equity Release. As with the FCA register, it is easy to search for members directly on the site.

Next: What Type Of Equity Plans Are available To Me?

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