The number of Britons looking to release money from their property to fund their retirement has risen to 61%, according to a report from the Equity Release Council.

The Equity Release Council, the trade body for equity release providers, has urged advisers to check their responsibilities under the next phase of the FCA’s Consumer Duty which takes effect from 31 July.

The Equity Release Council, the trade body for equity release providers, has published a new Consumer Duty-friendly guide to help financial advisers communicate more clearly and simply with clients about equity release.

The Financial Conduct Authority has demanded improvements in the later life mortgage / equity release sector after finding evidence of poor advice and misleading promotions.