The Equity Release Council has made a number of new appointments to its board, in order to strengthen its industry representation.
LV= commercial director Nick Austin, and Just Group’s managing director of retirement lending Paul Turner, will join the Council’s main board of directors.
The Council has also made three appointments to its standards board, to ensure this reflects the perspectives of the growing numbers of adviser firms that are now members of the ERC.
This includes the appointments of Sixty Plus equity release specialist David Wright – a smaller adviser firm working in this sector – as well Key Retirement’s technical director Dean Mirfin. Key Retirement is one of the larger specialist brokers operating in the later life lending market.
The Just Group’s head of comliance monitory and developer, Nikki Smith will represent providers on the standards board for 2018 and 2019.
The Council has also announced the creation of a standards advisory panel, which will consist of a range of industry practitioners. They will advise the standards board board on a range of consumer issues. The first members appointed to this panel are Desmond O’Hara, from yourmortgagedecisions, and Mark Lambert, a director at Viva Retirement Solutions.
These appointment come at a time of record growth for the equity release sector, with activity more than doubling in two years, to £870m of lending in the first quarter of this year.
The ERC now has 220 member firms, an increase of a third in the last year.
Equity Release Council chairman David Burrowes says: “The Council is committed to leading and setting standards in the equity release market.”