The Equity Release Council and the Association of MortGage Intermediarations (AMI) have launched a new joint explanation, from designing the future: from Summit to shared commitment, the display of a coordinated approach to accept the challenges with which the market for later life people is confronted.
The statement developed after insights from the 2024 Later life loans Summit, the Fairer Finance 2025 report and the FCAs MortGage Rules Review (DP25/2), identifies important priorities for industry, including: holistic, needs based on needs; building a more uniform advisory culture; ensure proportional regulations under consumer obligation; improving transparency and understanding of consumers; And the use of technology on the responsible person to support advisers.
The shared dedication offers a framework for practical action, including strengthening consultancy education, creating structured reference and cooperation models, dealing with regulators and government and promoting the responsible use of technology and data.
The joint explanation will be formally launched on the later Life Lending Summit 2025, which takes place in Sheffield on November 6, supported by main sponsor Adlington Law.
The TOP will bring consultants, lenders, lawyers, technology companies, policy makers, consumer representatives and commercial bodies together to discuss the shared involvement and translate it into practical results for the market.
Jim Boyd, CEO of Equity Release Council, noted: “This shared bet marks an important first step while we develop a route map for the future of later life credits. The top of 2025 offers industry the opportunity to change these priorities in practical action, so that consumers continue to benefit from reliable, innovative advice.”
Ami Chief Executive Stephanie Charman (photo) added: “Ami and the ERC each bring unique strengths for the later lifelong’s market. By combining the broad reach of AMI in the mortgage sector with the specialist focus of the council, we can reach more than one of us.