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Knight Frank Finance joins ERC as body grows in number and stature

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  • 25/07/2019
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Knight Frank Finance joins ERC as body grows in number and stature
The newly-established Knight Frank Finance team for later life lending has joined the Equity Release Council (ERC) becoming the first major property firm to do so.

 

The firm, which was set up to offer whole-of-market advice on equity release and other retirement-focused products, has joined more than 1,000 other later life specialist members in the ERC. 

“Anyone who’s anyone in equity release, whether providers, distributors, surveyors, lawyers, advisers, are coming on board. They all recognise that being a member is essential to providing the credibility that we have and need as an industry,” said David Burrowes, ERC chairman.

“That’s based on our standards, including for products and distribution, which underpin the message we want to ensure goes out,” he said.

 

Changing attitudes

The ERC has highlighted changing attitudes towards property wealth as part of financial planning for later life.

“Our research shows that attitudes have changed over time. People are recognising that they need to look at it as a viable option and so there needs to be more advisers out there who are properly informed and are providing quality advice,” Burrowes said.

“ERC is recognised as a Kitemark-type badge that people are drawn to.”

David Forsdyke of Knight Frank Finance said: “I’ve worked closely with ERC for many years and seen first-hand the positive impact it has on consumer protection and confidence in the market. Membership is an essential ingredient for any firm involved in equity release.”

The ERC provides representation on behalf of members and, said Burrowes “we punch above our weight in government, with regulators, the media and in the industry generally.”

There are different categories of pricing for membership based on firm size, with adviser firms starting at £200 upward.

The cost for lender firms starts at £20,000.

Membership includes a listing in the ERC’s online search database.

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