Equity Release  

Lending sourcing system joins Equity Release Council

Lending sourcing system joins Equity Release Council

A sourcing system has joined the Equity Release Council amid an ongoing surge in demand for equity release products.

From today (18 September), Air Sourcing can use the council logo to provide reassurance to its users and clients that it abides by the trade body's statement of principles.

Air will take part in the council's working groups and committees, with a specific focus on product make-up, availability and sourcing.

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It will also be included in the council's member directory, which is available to all those interested in equity release, and the sourcing system's details will be included on the Find a Member website pages.

The move follows a tripling of equity release product options during the past 10 years due to a surge in demand from older people looking to unlock their housing wealth.

Air was launched in May 2016 and has since grown to 2,000 registered users conducting more than 3,200 sourcing sessions each month.

It is available to registered advisers free of charge and offers products with enhanced terms for members of its sister companies, the Equity Release Club and Later Life Academy.

Stuart Wilson, group managing director at Answers in Retirement Ltd, said: "We will play a very full part in the workings of the council, especially when it comes to contributing our knowledge and expertise in the product and sourcing sectors. 

“The number of products, and the growing innovation in the marketplace, makes this a very interesting time for the sector and those individuals who may now be able to benefit from an equity release/later life lending solution. 

“The demand is growing and we intend to work with the council to ensure that advisers get the best product access and that all stakeholders work together to develop solutions for a much wider demographic.”

Donna Bathgate, chief operating officer of the Equity Release Council, said: "We look forward to working with Air Sourcing during an exciting time of growth for the market and commend its commitment to provide support to the sector, ensuring that the highest standards of financial advice are delivered to consumers."

simon.allin@ft.com