The Equity Release Council has signed up its first major property firm after Knight Frank Finance, the financial services arm of global real estate consultancy Knight Frank, launched a UK later life finance team.

The new team will advise on and offer a range of products designed specifically for homeowners over 55-years-old, including equity release options, influenced by the view that high net worth homeowners can also benefit from discussions about the role property wealth can play in later life.

Membership to the Council, the representative trade body for the equity release sector has been growing steadily, boosted by new entrants to the market, Almost all members (84%)1 believe membership is essential due to the credibility it brings, allowing them to play an active role in the industry.

Last month it signed its 1,000th member. The growth of the Council’s membership highlights the changing attitudes towards property and financial planning across the UK, with over half (51%)2 of older homeowners now factoring bricks and mortar into their later life plans.

David Burrowes, Chairman of the Equity Release Council said: “Knight Frank Finance’s expansion into the later life sector, and membership to the Equity Release Council is testament to the growth in popularity of equity release, and the important work the Council does to uphold rigorous standards and consumer protections across the industry.

“As the popularity of equity release grows, so too does the need for qualified advice. The launch of Knight Frank’s Later Life Finance team is therefore a great addition to the equity release adviser landscape and the Council’s membership.”

David Forsdyke of Knight Frank Finance commented: “I have worked closely with the Council for many years and have seen first-hand the positive impact they have on consumer protection and confidence in this market. Membership is, in my opinion, an essential ingredient for any firm involved in equity release.

“We are fully committed to this market and dedicated to providing a best in class service to our diverse range of clients, bringing the needs of high net worth homeowners into the conversation around equity release. Going forward Knight Frank Finance has ambitious plans to build its specialist team of equity release and later life financial experts.”