Compulsory qualifications mark new era for ER, says IFS

The Institute of Financial Services is supporting Safe Home Income Plans decision to no longer accept business from advisers who do not hold a ‘suitable lifetime mortgages qualification’.

Mark Roberts, head of faculty financial regulation at the IFS, says: “SHIP’s announcement marks the beginning of a new era for the equity release
industry.

“Equity release has now moved on from the mis-selling scandals of
the late ’90’s and compulsory qualification will only improve the reputation
of the industry for all those operating in it.”

The IFS Certificate in Lifetime Mortgages was one of the ‘suitable
qualifications’ named in the SHIP announcement. The CeLM has 2,500
registrations to date and is delivered in the same format as the Certificate
in Mortgage Advice and Practice.