Advisers need to look into all the products available on the market and consider how they suit their customer, according to Andrea Rozario, director general of Ship.
In addition, Ms Rozario said advisers need to check they are following the FSA rules around advice.
If they are at all unsure, resources such as the Ship website (www.ship-ltd.org) and some providers’ websites can be very helpful.
Once you have completed this process and narrowed down the products to those most suitable, Vanessa Owen, head of equity release at LV, said you can use sourcing tools to help you compare rates.
She said: “Don’t forget to also check for any fees that the client may have to pay, be it up front or further down the line.”
