The ERC have announced that from Tuesday 19 April all new equity release customers will be required to have at least one face-to-face and in person meeting with a solicitor, in order to take out a plan that is compliant with Equity Release Council standards.

Where an offer was issued from to 19 April it will require a new style solicitors certificate and remote advice will no longer be permitted.

Where an offer was issued prior to 19 April and if an in person meeting did not take place the non face to face certificate can be used as long as completion takes place before Sunday 31 July.

Where an offer was issued prior to April 19, 2022, if not completed by 23:59hrs on Sunday, July 31, 2022, whether re-offered or not, it is not permissible to use the current face-to-face in person certificate. This may require the execution of a new certificate.

We will also be ending the use of Desktop valuations and will require a full psychical valuation for all new lending.