Equity Release Council

55Plus is a member of the Equity Release Council — the industry body that sets the standards and consumer safeguards for the UK equity release market. Membership means we advise only on plans that meet the Council’s product standards, giving you extra peace of mind.

The Council’s product safeguards

• Fixed or capped interest rates — for lifetime mortgages, rates must be fixed for life or, if variable, have a cap for the life of the loan.
• The right to remain in your home for life, or until you need to move into long-term care, provided the property remains your main residence.
• The right to move to another suitable property without financial penalty.
• No negative equity guarantee — you will never owe more than the value of your home when it is sold, so no debt is ever passed on to your estate.
• Right to make penalty-free payments, subject to lending criteria, so you can manage the interest that would otherwise roll up.

Independent legal advice

Under Council rules, every customer must take independent legal advice before completing an equity release plan. Your solicitor confirms — face-to-face where required — that you understand the plan, its risks and its long-term implications.

Learn more

You can read the Equity Release Council’s Statement of Principles and view our public membership listing on their website: equityreleasecouncil.com.