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The Equity Release Council has commissioned an independent report entitled Later Life Lending: Great Expectations by Jon Dunckley, director of About Consulting Group.

It explores the UK’s later life lending market in context of the c£28bn of annual mortgage lending to consumers over the age of 55.

It  was commissioned to help set out a route map for all market participants – including government, regulators and industry – to better support our ageing population.

The two-page paper below sets out the Council’s position re the report.

The Equity Release Council has produced extensive guidance to support its members to comply with the Financial Conduct Authority’s forthcoming Consumer Duty.

The guidance focuses on price and value which is one of the most challenging outcomes of the Duty for the mortgage industry, including the equity release sector.

The guidance was informed by workshops attended by members of the Council.

Aimed at provider and advisory firms, termed manufacturers and distributers in the Duty, it was produced with support from Deloitte and has been welcomed by the regulator.

The guidance is made up of three sections entitled: Introduction to a fair value assessment; completing a fair value assessment; and governing a fair value assessment.

However, the Council said its members must have a broad understanding of the Duty’s outcomes which concern communications, products and services and customer services.

The Equity Release Council has produced extensive guidance to support its members to comply with the Financial Conduct Authority’s forthcoming Consumer Duty.

The guidance focuses on price and value which is one of the most challenging outcomes of the Duty for the mortgage industry, including the equity release sector.

The guidance was informed by workshops attended by members of the Council.

Aimed at provider and advisory firms, termed manufacturers and distributers in the Duty, it was produced with support from Deloitte and has been welcomed by the regulator.

The guidance is made up of three sections entitled: Introduction to a fair value assessment; completing a fair value assessment; and governing a fair value assessment.

However, the Council said its members must have a broad understanding of the Duty’s outcomes which concern communications, products and services and customer services.

The Equity Release Council has produced extensive guidance to support its members to comply with the Financial Conduct Authority’s forthcoming Consumer Duty.

The guidance focuses on price and value which is one of the most challenging outcomes of the Duty for the mortgage industry, including the equity release sector.

The guidance was informed by workshops attended by members of the Council.

Aimed at provider and advisory firms, termed manufacturers and distributers in the Duty, it was produced with support from Deloitte and has been welcomed by the regulator.

The guidance is made up of three sections entitled: Introduction to a fair value assessment; completing a fair value assessment; and governing a fair value assessment.

However, the Council said its members must have a broad understanding of the Duty’s outcomes which concern communications, products and services and customer services.