From 6 April 2007, the sale and marketing of equity release products, including lifetime mortgages and home reversion plans, will be regulated by the Financial Services Authority (FSA).
Therefore, anyone giving advice on equity release products will soon be required by law to hold an appropriate qualification. The ifs School of Finance responded to imminent regulation by launching a Certificate in Regulated Equity Release (CeRER) as well as an equity release top up unit for those already holding the Certificate in Lifetime Mortgages (CeLM) or an equivalent qualification.
Advisers can register for these courses now, with examinations available on demand from 10 April at any of the ifs School of Finances’ 150 UK test centres.
Mark Roberts, head of faculty for financial regulation, stated: “We are pleased that after only a few days of registration, several hundred advisers have already registered for these new courses.”
