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OneFamily Adviser

How to get into equity release

More and more people are turning to equity release to fund their retirement lifestyle, support with day to day living or help younger family members onto the property ladder.

If you’re interested in starting to advise on equity release as part of your professional development, read on to find out about the qualifications that can get you there.

Getting qualified

To become equity release qualified you have the choice of two qualifications:

A Certificate in Regulated Equity Release (CeRER) from the London Institute of Banking and Finance builds on the mortgage knowledge acquired from the Certificate in Mortgage Advice and Practice (CeMAP), although other equivalent level 3 mortgage qualifications will also qualify you for this course.

The qualification is split into two modules –

  • Fundamentals of equity release
  • Equity release solutions

Each module has a two-hour examination, one with 50 multiple choice questions relating to equity release fundamentals, and another with three case studies and ten multiple choice questions about equity release solutions.

A Certificate in Equity Release from the Chartered Insurance Institute also meets the FCA’s requirements for equity release advisers.

To get the certificate you’ll need to study the ER1 equity release unit as well as two others:

  • R01 Financial services, regulation and ethics
  • CF1 UK financial services, regulation and ethics
  • CF6 Mortgage advice

If you already have the CF6 in mortgage advice you only need to pass two more units to qualify.

Getting qualified is just the start

Both qualifications help you to develop the advisory skills necessary to operate in the equity release advice market, and helps you to understand the unique regulations, products, practices and customer needs of the later life market.

In order to maintain your qualification, you will need to log CPD hours through consumption of learning materials or attendance of industry events.

Equity release standards are evolving, and in later life people need advisers to look at the ‘bigger picture’. It’s important to understand equity release products, but you should also have a good understanding of mainstream over 55s products as well as other factors such as; tax implications including inheritance tax, impact on state benefits, care and consideration to other options such as downsizing and intergenerational finance.

In the coming months we’ll be further exploring how to obtain and retain your equity release credentials and identify and evidence the fair treatment of vulnerable customers.

If you’re looking to log more CPD hours or find out more about our lifetime mortgage proposition, check out our events calendar.

View our Lifetime Mortgage events calendar

Events Calendar