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
6 Garden Tips to Add Value to Your Property
30 Apr 2024
If you are looking at putting your house on the market, you may want to consider giving your garden some TLC. Small changes can make your outside space a lot more attractive to potential buyers resulting in a faster sale.
Averages for a first time buyer in the UK
3 days ago
Getting on the property ladder is a big milestone in life, and is not something to take lightly. There are several things to take into consideration such as saving up for a deposit, finding your dream home, and finding the best mortgage product to suit you. Here we look at UK first time buyer statistics.
Can I get a mortgage without a deposit?
15 days ago
If you are struggling to get over the hurdle of saving enough deposit due to being in a rental property, but wish to purchase your own home, you may be able to with a 100% mortgage. You will need to meet certain requirements and be financially stable.
Reasons to Remortgage your Home
19 Mar 2024
If you are looking at remortgaging your property but you are unsure whether it’s the right decision, we have listed five reasons why it might be for you.
Debt Awareness Week | Consolidating Debts
12 Mar 2024
As the cost-of-living crisis continues, many people across the UK are struggling financially, many of whom are finding it hard to get debt-free.
According to research by StepChange, there are five common reasons people don’t seek help and advice with debt concerns.
Friyay Rate Reviews
6 Feb 2024
Every Friday our experts search the market for the latest rates from every lender saving our clients some serious £'s!
Looking to Extend?
2 Feb 2024
Are you looking to extend your property? There are many benefits to adding an extension to your existing home, here are a few.
Why should you consider Equity Release?
30 Jan 2024
Put simply, Equity Release is where you can release equity (money) tied up in your home for any purpose you like. In this short article, we share some reasons why you may want to consider Equity Release.
More information
Trusted by
