Equity Release Advice Process Manual


As Equity Release customers are labelled vulnerable, they are not able to opt-out of advice.  This ensures that every customer receives advice in the first instance and are given the time and support needed.  Vulnerability features explicitly as a factor within the Consumer Duty; therefore we have updated our manual to reflect this.

From the 31st July 2023, all products and services must be fit for purpose and offer fair value under the Consumer Duty.  In addition, all communications and customer support must enable consumers to make, and act on, well-informed decisions.

This manual outlines the advice and sales process to be followed in the course of recommending a Lifetime Mortgage, Home Reversion Plan or Home Purchase Plan.  It also provides guidance on how to handle advice that has been rejected by the customer.

FORMAT: All documents are downloadable via email upon receipt of payment.



WORD DOCUMENT – 30 PAGES – Updated with Consumer Duty requirements – July 2023


  1. Introduction
    1. Advice/Sales Permitted
    2. Lifetime Mortgage Definition
    3. Home Purchase Plan Definition
    4. Home Reversion Plan Definition
  2. Introduced Business
    1. Introducing to another Intermediary
  3. Contacting Customers – cold calling
    1. Methods of Conducting Solicited Real Time Promotions
    2. Referral from an Introducer
    3. Referral from an Existing Customer
    4. Contacting Existing Customers
    5. Important Notes
  4. Communication with Customers
    1. Scope of Service Disclosure
  5. Initial Disclosure
    1. Verbal Disclosure
    2. Product Range/Limitations
    3.  Commission
    4.  Fees
    5. Fees – Election Form
    6. Additional Disclosure Requirements where Business is Transacted by Distance
    7. Privacy Notice
  6.  Factfind
    1.  Affordability
    2. Non-Disclosure
  7. Research – Key Facts Illustration
  8. Suitability of Advice
    1. Equity Release Transactions
    2. Home Reversion Plans
    3. Advice Rejected
  9. Home Purchase Plan – additional requirements
    1. Risks & Features Statement
    2. Financial Information Statement
    3. Post-Sale Disclosure
  10. Proposal Completion
  11. Suitability Letter
  12.  Variations
    1. Further Advances
  13. Arrears & Debt Consolidation
  14. Execution Only
  15. Customers in Special Circumstances
  16. Record Keeping
    1. Minimum Requirements