Warning over advisers' equity release awareness as sales spike

In a note issued on Monday, the alliance pointed to the legal safeguards introduced by the Equity Release Council (ERC) at the beginning of the year, which were designed to create enhanced protection for consumers. The guidelines stipulate clients need to see a solicitor during the advice process and sign the solicitor's certificate. The lawyers' calls were sparked by a recent spike in equity release sales, which, according to the ERC, has seen £641.2m of plans written in 2014 - a record half year and 34% up on 2013. ERSA chairman Claire Barker said: "Eight months into the year, we...