SAFEGUARDS & REGULATIONS

Call Our Equity Release Specialist On 01702 861970

Equity Release Safeguards & Regulations

Equity Release mortgages have been in force since 1965, and been through much change & regulation. People over age 55 can be considered more vulnerable members of society. All Equity Release plans recommended by Frost Financial Services Equity Release advisers will therefore meet the standards laid down by the Equity Release Council & the Financial Conduct Authority. As required by the Regulator we must present our illustrations in a set format, which means that they are comparable with those of our competitors.

Equity Release – Ensuring Your Safety

Lifetime mortgage schemes were regulated by the Financial Conduct Authority (formerly FSA) in October 2004, with Home Reversion schemes following in April 2007. This ensures rules are followed & Equity Release schemes fully protected. Should a future complaint arise then you can seek redress from the Financial Ombudsman

The Financial Ombudsman Service (FOS)

Is an agency for the arbitrating of unresolved complaints between regulated firms and their clients. Full details of the FOS can be found at www.financial-ombudsman.org.uk

Equity Release Council, Advisers & Solicitors

Equity Release Council

Started in May 2012 and replacing SHIP (Safe Home Income Plans set up in 1991) the Equity Release Council, ERC for short, the Council was set up to replace SHIP and represents the leading providers of Equity Release plans. ERC members have agreed to a code of practice and guarantees to protect clients:-

    • Clear and transparent documents
    • Clear and transparent charges
    • A no Negative Equity Guarantee – you can never owe more than the value of your property
    • A Lifetime Tenancy – a permanent right of occupation whilst you are living there, you cannot be asked to leave your home
    • Your Choice of Solicitor who undertakes the Legal work and signs an ERC certificate confirming that the Equity Release scheme, its advantages and disadvantages, have been explained to you
    • Portability– freedom to transfer the Equity Release loan to a new suitable property

Equity Release Advisers

Should be fully qualified and must hold the relevant Equity Release examinations. Depending on the examination body CII or LIBF (formerly IFS) these will include the core Lifetime Mortgage qualifications:-

      • Certificate in Mortgage Advice and Practice (CeMAP)
      • Certificate in Regulated Equity Release (CeRER)
      • CF1, CF6 and ER1

Equity Release Solicitors

Are required to conduct the Legal aspect of any application. To meet ERC guidelines they must always be independent of the Lifetime Mortgage lenders solicitor. To ensure speed & quality of transaction we would always recommend you instruct a solicitor who is a member of ERSA (Equity Release Solicitors Alliance). ERSA offers access to specialist solicitors who take the applicant through the Equity Release process.

Why Frost Financial For A Equity Release Mortgage

We save you the hassle

Our highly trained and multi qualified Equity Release professional advisers work with you every step of the way to make the lifetime mortgage process simple, understandable and in line with your expectations. With enhanced borrowing available for ill-health and an option to downsize property (subject to Lender Underwriting Criteria) and take the Lifetime mortgage with you without Early Repayment Charges applied.

We’re impartial

All appointments with you are face to face and in our office or the comfort of your own home. We strongly encourage you to discuss your plans and have a family member, friend or a solicitor present in any discussions and decision making. We provide an advice and recommendation level of service with access to the whole equity release lifetime mortgage market and can find you the ideal product for your needs. We further adhere to the membership of the Equity Release Council promise to follow its stringent Statement of Principles for your added peace of mind.

We can improve your lifestyle

Think about what you could use the extra money for; to supplement your income, help your family, adapt your home, travel or buy that something special. You can achieve this whilst retaining 100% ownership of your home and, if required, maintain a Guaranteed Inheritance for your family. You can choose to make repayments, make no payments and roll up the interest to be repayable when the property is sold or add a Drawdown facility with staged payments which only attract interest once you take the money.

Contact our experts without delay

Our experts are on hand to help you! Enquire today by calling us on 01702 554028 or using our contact page.


    Mortgage advisers based in Hadleigh, Essex. We provide a large panel of lenders as well as loans, insurance and equity release.

    Frost Financial Services is authorised and regulated by the Financial Conduct Authority. Registration number: 300133.

    For residential mortgages, your home may be repossessed if you do not keep up repayments on your mortgage.

    With lifetime mortgages you retain 100% ownership. To understand the features and risks, ask for a personalised illustration.

    ADDRESS

    Frost Financial Services
    Endway House
    The Endway
    Hadleigh
    Essex
    SS7 2AN

    PHONE

    Frost Financial Services
    01702 554028

    PHONE

    Equity Release
    01702 861970

    EMAIL

    info@frostfinancialservices.co.uk