The IFS School of Finance says large numbers of mortgage advisers have already signed up to their new Certificate in Regulated Equity Release in advance of regulation which comes into force next month.
From April 6 2007, the sale and marketing of equity release products, including lifetime mortgages and home reversion plans will be regulated by the Financial Services Authority.
Therefore, anyone giving advice on equity release products will soon be required by law to hold an appropriate qualification.
The IFS School of Finance, responded to imminent regulation by launching a new CeRER as well as an equity release top up unit for those already holding the Certificate in Lifetime Mortgages or an equivalent qualification.
Mark Roberts, head of faculty for financial regulation at IFS, says: We are pleased that after only a few days of registration, several hundred advisers have already registered for these new courses.”