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The Equity Release Council is the UK's equity release industry body that sets standards to protect consumers. Its members commit to following a set of five product standards: fixed or capped interest rates (for lifetime mortgages), the right to remain in the property, the right to move to another property, the ‘no negative equity guarantee ...
A pensions Green Paper, "Simplicity, Security and Choice: Working and Saving for Retirement", was published in December 2002. It stated that the Treasury would be "looking at options to create a level playing field for the regulation of equity release and home reversion plans to protect consumers and make the market work better". [21]
The UK mortgage market is one of the most innovative and competitive in the world. There is little intervention in the market by the state or state funded entities and virtually all borrowing is funded by either mutual organisations (building societies and credit unions) or proprietary lenders (typically banks). Since 1982, when the market was ...
SunLife Ltd is a UK-based financial services company. Founded in 1810, the company is best known for its range of services for people aged 50 and over. SunLife currently offers over 50s life insurance and equity release in the United Kingdom. In 1900, they became the first company to offer life insurance without a medical.
In 2015, the Pension Wise website was criticised by the Work and Pensions Select Committee as having a low take up of Pension Wise appointments. [5] [6] The Equity Release Council have recommended that Pension Wise be extended to allow advice on equity release. [7]
UK trust law permits ethical investment policies, to divest from assets beneficiaries object to or promote particular causes. [230] A trust deed may expressly allow it, or otherwise trustees must simply not make financially detrimental decisions and sufficiently diversify investments under the Trustee Act 2000 section 4(3). [231]
Equity sharing is another name for shared ownership or co-ownership. It takes one property , more than one owner, and blends them to maximize profit and tax deductions . Typically, the parties find a home and buy it together as co-owners, but sometimes they join to co-own a property one of them already owns.
In 2019, Just Group was criticised after claims that Age UK was sending users through its commercial arm (Age Co) to an equity release advice service provided by Hub Financial, a company wholly owned by Just. While customers were told that Hub compared deals from a panel of five providers, its advice process was structured so that in most cases ...