The Equity Release Council has appointed two Non-Executive Directors to build on membership and market growth.

Summary

• Mike Hughes and Barry Meeks bring decades of experience in mortgage lending, banking, financial advice, product distribution and technology
• Both will act as independent voices to inform the industry body’s strategic plans and responsible stewardship of its consumer-focused standards
• Over 700 organisations have now signed up to adopt the Council’s standards as the market experiences growing demand for safe, flexible equity release products.

David Burrowes, Chair of the Equity Release Council, comments:

“I am delighted to welcome Mike and Barry to the Council. They both bring a vast depth of experience in retail financial services, and their independent perspectives and focus on putting customers first will be invaluable as our organisation and market continue to evolve.

“These important appointments set us up to build on 30 years of work as we continue to build confidence and choice in the modern equity release market, by promoting sustainable growth and responsible stewardship.

“Property wealth has a vital contribution to make to support the UK’s ageing population. The Council is committed to its unique responsibility to ensure customers’ voices are represented, alongside those of all our members, as we explore the continued safe growth of the sector.”

Mike Hughes comments:

“The way equity release is viewed has visibly evolved in recent years and the Council has been at the forefront of that change, overseeing standards which ensure growth is always safe and with consumer protection at its heart.

“I am looking forward to helping the Council build towards a position where equity release is universally perceived as a mainstream financial option for later life. All homeowners can benefit from making an active choice about whether equity release is right for them. Understanding how modern equity release works as a flexible financial tool alongside pensions and other products within today’s retirement landscape is crucial.”

Barry Meeks comments:

“I am passionate about driving customer-centric thinking in the organisations I work with. The Equity Release Council has made leaps and bounds towards ensuring appropriate consumer protections are in place, and changing perceptions of equity release to become a credible and useful option for later life financial planning.

“There is more work to be done as today’s flexible products grow in popularity, and I look forward to supporting the Council’s dynamic team to drive further change across the sector and improve education for consumers and professionals in neighbouring areas of financial services.”

To read the full press release please click here.

As always, members are encouraged to join in the conversation on social media and in traditional media.

Kind regards,

Equity Release Council