Gemma Harle, managing director of Intrinsic's mortgage network, has suggested the Financial Conduct Authority rethink their decision on equity release qualifications.
Last year the Financial Conduct Authority has shelved plans for a standalone equity release qualification.
After a consultation it concluded there was not a "market need" for such a qualification and shelved the plans
But Ms Harle said the Equity Release Council figures, published today (23 January) show the significant role housing wealth is playing as people plan their finances.
Equity release lending passed £3bn for the first time in 2017, up 42 per cent on 2016, according to the Equity Release Council.
It was a record quarter for equity release activity in the fourth quarter of 2017 that pushed annual lending growth in the sector to its highest level since 2002.
However, Ms Harle said it is crucial to take advice as relying on your home in retirement is difficult and accessing it isn’t as simple as opening the right door.
She said: "Last year the FCA decided to drop plans to create a standalone equity release qualification for financial advisers.
"These figures suggest a review of the qualification would make some sense, given the general direction of travel for retirement planning.
"This would help financial advisers meet the growing demand for a holistic approach to financial planning that includes equity release, whose popularity is growing at a serious pace."
emma.hughes@ft.com
