Lighthouse Group 

Lighthouse becomes first network in Equity Release Council

Lighthouse becomes first network in Equity Release Council

Lighthouse Advisory Services Ltd has become a member of The Equity Release Council.

It is the first financial services network organisation to join the council.

The decision to join was in recognition of the increased role equity release plays within the retirement planning landscape and the breadth of options in the mortgage market.

Lighthouse's advice will be underpinned by the council’s standards, including the no negative equity guarantee, the right to tenure, the ability to port a loan to a suitable property and a requirement that any customer taking out an equity release product must receive both legal and independent financial advice.

Malcolm Streatfield, chief executive of Lighthouse Group, said: “Becoming a member of the council was a natural progression for us with the group having arranged £885m of mortgage funds for 5,000 customers in 2016.

“Equity release is a natural extension of this activity and has become an increasingly important area for our business in recent years.

“We are advising more customers on equity release than ever before and want to ensure we provide all our customers with first class advice, underpinned by robust standards.

“We are delighted to be part of the council and look forward to working alongside it to help more people realise the value of equity release for retirement where appropriate.”

The volume of lifetime mortgage customers surged by 22 per cent in 2016, with a total of 27,534 new plans agreed, while the value of lending passed the £2bn mark, according to the latest market report from the Equity Release Council.