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
Budgeting over the Christmas Period
3 days ago
The most wonderful time of the year can easily turn into the most expensive time of the year. Watching the pennies doesn’t mean that the Christmas festivities have to stop, following a few budgeting tips can mean you still have a special Christmas and don’t go into the new year in debt.
Preparing your home to sell in winter
7 days ago
December is usually a less desirable time to buy as many people don’t want to move over the holidays. However, prospective buyers do start to look at this time. Selling your home in winter may require a bit of extra attention to showcase your property at its best.
We look at why mortgage rates increased following the Bank of England's choice to reduce the bank rate, and should you fix now?
UK 2024 Autumn Budget: Housing
30 Oct 2024
On 30th October 2024 the Chancellor, Rachel Reeves delivered the Autumn budget which we had previously been warned would be “difficult”. Below we have summarised the main housing points.
Talking about money with kids
23 Oct 2024
In an increasingly cashless society, money is an intangible concept for children to grasp. In the days of coins and notes, kids could see money as something physical you require to purchase goods and services.
In order to help teach your children about money, we have listed some tips below;
Labour Autumn Budget Predictions: Housing
18 Oct 2024
The UK’s chancellor, Rachel Reeves will deliver the Labour government’s autumn budget at the end of the month, we take a look at what could be announced in relation to housing.
Recent research from Halifax has revealed the most sought-after locations for first time buyers in Britain.
The data which was taken from the Halifax House Price Index looked at areas outside of London where those looking to purchase their first property were buying. Despite high property prices and increased rates, these first time buyer hotspots have remained popular.
How can I look after my mental health?
7 Oct 2024
Taking care of your mental health means looking after your emotional, psychological, and social wellbeing. There are several ways we can practice self-care that will help to improve our physical and mental health. This can help to reduce our risk of illness, manage stress, and boost our energy levels!
More information
Trusted by
