It is fair to say that the Equity Release Mortgage market of today is safer than it has ever been. Both Lifetime Mortgages and Home Reversion Plans are now regulated by the industry watchdog, the Financial Conduct Authority (FCA).
Advisers who practice advising on Equity Release Mortgage must now also have specific qualifications in this specialist field.
The market is also protected by an industry body known as The Equity Release Council who took over from SHIP (Safe Home Income Plans) on May 28 2012, The Equity Release Council is dedicated entirely to the protection of plan holders and promoting only safe equity release plans. Their Code of Practice has been welcomed by Age Concern.