Smart Money People has joined the Equity Release Council (ERC), marking a significant milestone for the company.
With more than two million reviews shared to date, Smart Money People’s platform aims to empower consumers to make financial decisions, and provide financial services companies with insights.
The Council now has 762 member firms and 1,848 registered individuals.
Member firms include active mortgage product providers, as well as financial advisers, solicitors, surveyors, funders and other market professionals.
Equity release sales have been slowly rising during 2024 after a subdued second half of 2023, with borrowers benefitting from the security of fixed or capped interest rates for life and the option to make voluntary penalty-free repayments without the risk of repossession.
Jim Boyd, CEO of the Equity Release Council, said: “We are pleased to welcome Smart Money People to the Equity Release Council.
“Our standards are the cornerstone of the UK later life market.
“The addition of Smart Money People is a ringing endorsement from a well-regarded brand, that puts customers first, that there are genuine opportunities for growth within our market.”
Boyd added: “As people live longer, many find themselves asset-rich but cash-poor, with significant wealth tied up in their homes but limited funds to top up their pension income, pay for at home care or make home improvements.
“For the right person, releasing equity can provide them with the financial flexibility to enjoy a more comfortable retirement.
“We are committed to working with Smart Money People and our broader membership to ensure equity release products remain a trusted option which can contribute to better financial outcomes and experiences in later life.”
Jess Rushton, head of business development at Smart Money People, said: “The need to borrow into older age and even retirement is increasingly becoming a fact of life for more and more people.
“We’re committed to helping financial organisations better serve their customers with actionable insights.
“Smart Money People have extensive experience in working the mortgage sector, including this growing demographic.
“So we’re delighted to join the Equity Release Council, which will put us at the heart of this vibrant and growing industry.”
