With Smart Money People’s arrival, the ERC now has 762 member firms and 1,848 registered individuals. Its member firms include every active UK lifetime mortgage product provider, as well as financial advisers, solicitors, surveyors, funders and other market professionals, covering every stage of the equity release customer journey.

Equity release sales have been slowly rising during 2024 after a subdued second half of 2023, with borrowers benefitting from the security of fixed or capped interest rates for life and the option to make voluntary penalty-free repayments without the risk of repossession.

Commenting on Smart Money People joining the ERC, the council’s chief executive Jim Boyd said:“We are pleased to welcome Smart Money People to the Equity Release Council. Our standards are the cornerstone of the UK later life market. The addition of Smart Money People is a ringing endorsement from a well-regarded brand, that puts customers first, that there are genuine opportunities for growth within our market.”