Chris Pond, chair of the standards board at the Equity Release Council says it is essential for the revamped trade body to build consumer confidence through its wider remit.
He felt the development of new standards would "build the consumer confidence we need to be able to grow the market" but would have to be "realistic and make sense for different sections of the industry." On Monday, the trade body formally known as SHIP, which traditionally represented equity release providers, unveiled its new branding and expanded membership to IFAs, solicitors and surveyors. Pond [pictured] said current standards would be adapted to suit the needs of the trade body's wider scope. "We need to make sure they continue to be the best in class," he said. "We need to ...
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