Speak to a member of our Information Team on  0800 048 5384

What is the Equity Release Council?

30/11/2021 |  min read

What is the Equity Release Council?

Launched in 1991 as the Safe Home Income Plan (SHIP) and rebranded as the Equity Release Council (ERC) in 2012, the organisation is supported by the leading providers of equity release to promote safe schemes and to safeguard the interests of homeowners.

The Equity Release Council’s standards and principles ensure that all member companies provide a full and easy to understand presentation of their plans.

Members like us at Responsible display the Equity Release Council’s logo on our literature as a guarantee to customers that we observe the Council’s customer-focused requirements.

The Equity Release Council’s Requirements

Members of the Equity Release Council must uphold criteria aimed at putting customer needs first and increasing honesty and transparency across the sector. These requirements include, but are not limited to, the following:

  1. Members of the ERC agree to provide a fair, simple and complete presentation of their products. The benefits, obligations, variables and limitations must be clearly set out in their literature, including all costs which the applicant has to bear in setting up the scheme, the position on moving home, the tax situation and the effect of changes in house value.
  2. All plans must carry a no-negative-equity guarantee, which means that you will never owe more than the value of your home. In the unlikely case that the housing market significantly crashes, any excess would then be absorbed by the lender.
  3. The client’s legal work will always be performed by the solicitor of their choice. In all cases prior to the completion of the plan, the solicitor will be provided with full details of the benefits the client will receive. The solicitor will be required to sign a certificate to the effect that the scheme has been explained to the client
  4. ERC members are regulated by the Financial Conduct Authority (FCA) and are required to follow a strict procedure for dealing with complaints. If the complainant remains unsatisfied, they can take their complaint to the Financial Ombudsman Service.

What are the benefits of dealing with an Equity Release Council member?

If you are considering releasing equity from your home, you should ask yourself three key questions:

  1. Will I have the right to live in my property for the rest of my life?
  2. Will I have the freedom to move to suitable alternative property without financial penalties?
  3. Will I receive a tax-free cash lump sum?

If you release equity through an ERC member, then the answer to all of these questions is guaranteed to be yes.

Responsible Equity Release will only ever use lenders that are members of the Equity Release Council, meaning that you will always enjoy the safeguards guaranteed by them.

Contact our Information Team today on 0800 048 5384 to find out more about how equity release, and the assurances provided by releasing equity with a member of the ERC, could work for you and your family.

Related articles:

Ready to start your journey?

Equity release calculator

Enter your postcode and press 'Get address'
We need your full address to be able to send you your free guide to equity release. Please ensure you have selected your address from the list.
Please use the get address button above then select your address from this dropdown list.
£ Enter the value of your property to calculate how much you can release. You must own a home with a minimum value of £70,000 to release equity.

Are you interested in learning more?

To find out more about Lifetime Mortgages, and the various features available, why not book a no-obligation appointment with one of our fully qualified advisers? The Information Team can help with this on 0800 048 5384.

You can call our Information Team free on:

Or you can

Schedule a call

Opening Hours:

Monday to Friday 9am to 8pm and Saturday 9am to 5pm

Trust Score 5 out of 5
Based on over 1,410 reviews on Trustpilot

Our 5-star rated service.

“I do not normally write reviews, unless I feel the service was exceptional.”

“Richard Johnson was my Equity Release advisor, who I can genuinely say, did a thoroughly professional job in keeping me informed, raising the pitfalls, as well as the advantages of the various options, and monitoring the paperwork throughout this process. I do not normally write reviews, unless I feel the service was exceptional.”

5 out of 5

Mr. Sharratt

Cumbria, England

“Should anybody read this review then fear not, you will be in safe hands.”

“I contacted Mr Kevin Williams to help guide us through the ER process, Kevin was extremely helpful, polite and kept us informed at all times. He was very efficient and keen to answer our questions, how nice to deal with somebody that is not ‘pushy’ or ‘aggressive’, I have the greatest respect for Kevin and should anybody read this review then fear not you will be in safe hands.”

5 out of 5

Mr. & Mrs. Croft

Denbighshire, Wales