The council has appointed several senior politicians to the board, with the six-strong team containing Lord David Lipsey, Lord Michael German, Lord Richard Best, Eric Ollerenshaw MP, Heather Wheeler MP, and Laurie Edmans.
It says the new board members come from a wide range of sectors and will help develop the visibility of the council and better use the expertise of its members.
Nigel Waterson, chairman of the Equity Release Council, commented: “The creation of an Advisory Board is essential in the development of the Council, as it enables us to draw on the wealth of knowledge and experience of our senior supporters in Parliament and elsewhere.
“When we launched the Council in June, we aimed to sign up a variety of members, including advisers, solicitors, surveyors, and other interested parties. We have taken the same approach to our Advisory Board, confident that the contribution of different voices will help us to better represent and support the needs of the sector.”
Andrea Rozario, director-general of the Equity Release Council, added: “There is still much that needs to be done in order to make the equity release market safer and better regulated for consumers.
“We are very pleased to welcome several senior politicians to our Advisory Board as their support not only shows that equity release has climbed up the political agenda but also demonstrates a turnaround in views of equity release.
“We are certain their contributions will prove invaluable in ensuring that the Council works alongside the Government to further improve and develop the equity release market.”
