We are delighted to be able to announce that Mortgage Required has joined the Equity Release Council
The Equity Release Council (ERC) is a ‘not-for-profit’ organisation and a respected industry body for the equity release sector. It aims to fully represent and facilitate the safe growth of the equity release market by helping to create the conditions which enable the market to develop effectively. Built on the legacy of a predecessor body called SHIP (Safe Home Income Plans), the Council was launched in 2012 and represents over 180 member firms in the UK.
Our Managing Director, Tim Atkinson, stated that “Joining the Equity Release Council was an easy decision for us as they stand for ethical lending and putting the client's needs first. The ERC is a voluntary organisation who have fought hard to clean up the image of the Equity Release market and Mortgage Required will only sell products governed by the ERC”.
The conditions of the Equity Release Council require that mortgage terms include that:
- there be no Negative Equity Guarantee. In other words, you never owe more than the value of the property
- Interest rates are fixed or capped for the life of the loan
- Security of tenure for life - you can stay in your property until you either die or move into a long term care home
These requirements address many of the pitfalls that have been historically linked to the equity release market.
Tim added that “..At Mortgage Required we offer all of our clients a free face to face meeting to look at all the options available. Whilst Equity Release can offer the opportunity to raise the most money later in life, it is possible a traditional mortgage or other forms of lending may be a more suitable alternative..”.
If you would like to learn more about equity release and how it might best serve your needs call us for an initial chat.
Related articles:
Download our Free First Time Buyers Guide
Recent posts
Decorating Tips for Selling Your Property
8 days ago
Selling up? It’s important to make your house as appealing as possible to potential buyers. Good decorating can help with first impressions, and increase the perceived value of your property.
20 Budget-Friendly Activities
27 days ago
With the cost of living affecting so many of us, we have made a list of budget-friendly activities and ideas for you.
Moving and Packing Tips for a Stress-Free Move
21 Jul 2023
Moving soon? It's never too early to get organised! Be prepared and avoid unwanted stress by checking out our list of tips to get you ready for moving day.
What is the UK Inflation Rate?
27 Jun 2023
Inflation simply put, is the increase in the price of something over time. The Office for National Statistics (ONS) tracks the prices of hundreds of everyday items and these items are updated to reflect shopping trends.
Debt Consolidation into a Mortgage
20 Jun 2023
We are often asked if it's good advice to consolidate “unsecured” debt (credit cards and loans etc) into your mortgage, the answer is, sometimes.
Parking Rules Explained
16 Jun 2023
When you’re looking to buy a home, and you own a car, you ideally want to know the rules on parking in the area. Parking rules can be confusing, even for the most experienced of drivers! This is why we have written this blog to help you.
Sources of Deposit to Buy a Property
6 Jun 2023
There are several potential sources you can consider when it comes to getting together a deposit to buy a property. Providing proof of the source of your deposit is a key requirement in the application process and will need to be given to both the lender and the solicitor.
What is a Mortgage Prisoner?
26 May 2023
Mortgage Prisoners are people who are unable to switch mortgages to a better deal, despite being up-to-date with their mortgage payments.
More information
Trusted by
