Page 8 - Quick Equity Release Guide 2020

Is Equity Release Safe?
All Equity Release companies are registered with the FCA, but what does this mean to you the customer and how does it protect you?
FCA stands for the Financial Conduct Authority and they are the government body that oversee the finance industry (especially companies that deal with credit), they help protect your consumer rights and provide regulations for finance based companies. They run and maintain the register of regulated and approved businesses to sell finance products.
They work to protect consumers like you in several different ways. Acting to ensure companies have customers and consumers needs at the heart of how we do business, making sure we only offer you appropriate products and services, and putting your protection above profits or income of the companies. Monitoring which companies, products and individuals are able to enter the financial markets and making sure they meet high standards before being authorised to sell to customers. They can also stop companies from selling products that don’t meet the standards.
We at Retirement Solutions are authorised and regulated by the Financial Conduct Authority, including all out advisors - this means we only offer financially safe and approved products to you.
The Equity Release Council is the governing body in the Equity Release industry, they set the standards for policies and plans that are on offer to the whole market. They exist to ensure that equity release products are safe and reliable. It is a voluntary body which aims to ensure that its members are highly professional and act with integrity and transparency in offering high-quality products and services to you, the customer.
Retirement Solutions are members of the Equity Release Council, we will only recommend Lifetime Mortgages that are approved by the Equity Release Council.
These plans come with the following guarantees
● You will never owe more than the value of your home due to their “no negative guarantee”
● You have the right to remain in your home as long as you choose
● You will retain full ownership of your home, and if you choose to move home in the future you can transfer your Lifetime Mortgage to your new property as long as that property meets the lenders criteria.