Service standards are also clearly important to both the adviser and the customer.
Often the support available and process employed by the provider are available for the adviser to see, according to Andrea Rozario, director general of Ship.
All Ship members abide by the Ship code of conduct so Ms Rozario said it is important to check out the provider you are going to be recommending in order to satisfy yourself the support and standards are as expected.
Ms Owen said as equity release products were complex the lender’s service standards were essential for the smooth-running of the transaction.
She said: “Client’s can become frustrated if the process takes a long time so the service offered by providers can really help to alleviate the client’s concerns.”
