In April 2007, SHIP announced that all its members would not accept new business after 1 August 2007 unless written by, or signed off by, a holder of the lifetime mortgage exam, which all Key Retirement Solutions’ advisers held at that time.
In addition, to coincide with home reversion falling under the FSA’s remit, advisers must now also complete a new top-up equity release exam by April 2009 for the regulator, but by April 2008 as a SHIP requirement.
All Key Retirement Solutions’ advisers requiring the top-up exam have promptly sat, and now passed, the exam well ahead of SHIP’s deadline.
Dean Mirfin, business development director at Key Retirement Solutions, said: “Having all our advisers passing the required equity release exam ahead of schedule is a great position to be in. We can confidently continue to offer our clients equity release advice from fully qualified advisers looking at the whole of the market.
“We urge other advisers in this market who have not yet applied for the exam to act quickly to make sure their qualifications are up to scratch in time for the 2008 SHIP deadline.”
