Equity release is regulated by the Financial Conduct Authority (FCA) with the majority of product providers being members of Safe Home Income Plans (SHIP). SHIP members follow a strict code of practice:
- Customers remain in their property
- Fair, Simple & complete presentation of their plans
- Right to move plan to another suitable property without any financial penalty
- Legal work is performed by an independent solicitor of your choice
- A ‘no negative equity guarantee’ i.e. you will never owe more than the value of your home.