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.

The total amount of property wealth accessed via equity release hit a new high of £1.6bn in the second quarter of this year.

Over 23,000 new and returning equity release customers cashed in on property wealth via equity release between January and March this year.