The Equity Release Council has published its annual report for 2022.

It provides members and wider stakeholders with a visually engaging snapshot of how the Council performed and sets out its broad plans for the year ahead.

It was published after the record final year market data 2022 was issued last week, which showed more than 93,000 new and returning customers borrowed £6.2bn.

The report features some of the highlights of a year in which the number of new firms joining the Council increased by 13%.

Some of the other highlights of 2022 that are captured in the report include:

• Answering more than 300 technical enquiries.
• Facilitating reduced professional indemnity rate for advisers.
• Generating almost 1,000 weekly page views in the member directory.
• Introducing a member engagement and governance structure.
• Delivering the Equity Release Summit.
• Launching a fifth product standard so new customers can make penalty-free repayments.
• Achieving record media coverage and positive media sentiment.

Writing in the report, Jim Boyd, Council CEO said: “Our membership is the lifeblood of the Equity Release Council.

“We strive to demonstrate the value of that membership and to develop new added value services.

“Uniquely, we represent the whole of the value chain which gives us the mandate and credibility to talk with authority about the purpose, interests, and potential of our important market.

“We are proud of our achievements but not complacent. We are focused on moving the sector forward for the benefit of consumers and members.”

The annual report can be downloaded here.