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What are Equity Release Council equity release plans?

The ERC’s Standards Board exists to ensure that equity release plans are safe and reliable for consumers. Members are able to guarantee their customers that they offer products and services which conform to the best practices of the sector, ensuring customers are fully informed and increasingly protected.

Bower is a member of the Equity Release Council and only recommends Equity Release Council equity release plans or those with the same set of guarantees. These guarantees are in your best interests and include the following promises:

  • No Negative Equity Guarantee — you or your family will never owe more than the value of your home
  • You retain the right to remain in your home for life providing it remains your main residence and you keep to the terms and conditions of the plan.
  • No debt left to your loved ones
  • You can move to another suitable property (subject to the new property meeting the lender’s acceptable property criteria).
  • You retain the right to seek independent legal advice from an equity release solicitor of your choice