Dublin-based Spry Finance has joined the Equity Release Council (ERC) as an affiliate member, making it the first Irish firm to sign up to the trade body.
Spry Finance is part of the Irish-owned Seniors Money Group, which has over 15 years of experience providing lifetime loans to more than 30,000 customers.
With the addition of Spry Finance, the council now has 759 member firms, and more than 1,800 individuals registered.
All members agree to uphold the council’s standards, rules and guidance in addition to their regulatory responsibilities.
Jim Boyd, CEO of the Equity Release Council, said: “We welcome Spry Finance’s decision to join the Equity Release Council, whose standards underpin the UK market, which is considered to be the most sophisticated internationally.
“All advanced major economies are facing the same challenges from rapidly ageing population and inadequate retirement savings.
“We are committed to working with Spry and our wider membership to ensure equity release products are safe, flexible and reliable at a time when they are an increasingly important feature of every adviser’s financial planning toolkit.”
John Moriarty, CEO of Spry Finance, added: “As the sole provider of equity release products in the Irish market, we are well aware of both the opportunity for growth and the importance of ensuring good outcomes for every customer.
“Membership of the council will allow us access learnings and experience that will be helpful to us as we continue to develop and implement our strategies for product development, for marketing and communication and for industry-leading customer service and management.”
