Safety

Financial Services Authority

The Financial Services Authority (FSA) was set up by the Government and is responsible for regulation of a range of financial services and products, including equity release schemes. They aim to:

  • promote efficient, orderly and fair markets to help consumers achieve a fair deal
  • maintain confidence in the financial system
  • secure the appropriate degree of protection for consumers

The Equity Release Bureau is a trading name of Richard Martin Financial Services Ltd which is authorised and regulated by the Financial Services Authority. You can check our status as an authorised firm by visiting the FSA website and entering firm number 447905.

Safety with SHIP

The Equity Release Bureau is fully committed to the principles of SHIP equity release. We adhere to the SHIP code of conduct and will only ever recommend SHIP approved equity release plans to ensure your safety.

SHIP (Safe Home Income Plans) is a self regulatory trade body dedicated entirely to the protection of equity release planholders and the promotion of safe equity release plans. They ensure that equity release products are safe and their code of practice applies to both lifetime mortgages and reversion plans. Most leading equity release providers are members of SHIP, however there are equity release plans available that have not been approved. Those that are will be completely safe, so you should only ever choose an equity release plan endorsed with the SHIP logo.

All SHIP approved equity release plans come with a standard set of guarantees which include:

  • The right to remain in your home for as long as you choose
  • The freedom to move to another property without financial penalty (subject to lenders' criteria)
  • That you will receive a cash lump sum or a regular income
  • That you will never fall into negative equity no matter what happens to house prices in the future

Visit the SHIP website to find out more about the SHIP code of practice.

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