The Equity Release Council has announced formation of the Funders Forum, a committee made up of later life lending experts.

The committee’s job will be to guide the ERC through regulatory changes and consultations as well as supporting market growth and retaining consumer safeguarding standards.

It says that all ERC council members are eligible to join the forum.

The forum “Will provide later life funders with a setting for healthy discussion and debate to anticipate and address market developments,” says forum chair and head of Phoenix Equity Release Scott Robertson.

He adds: “I am grateful for the opportunity to chair this new initiative and look forward to promoting collaboration across the sector.”

Robertson will report to the ERC’s main board on opportunities and issues pertaining to later life lending.

Equity Release Council chief executive Jim Boyd comments: “The UK’s ageing population offers significant opportunities for funders to provide new product innovations to meet the changing needs of customers over ever longer lives.

“The forum brings together representatives of major funders with industry-leading technical expertise. It will be crucial in advising the council as we seek to promote safe and sustainable market growth built on flexible finance and strong consumer protections.”