Qualifications
Equity release is regulated by the Financial Services Authority. Specific qualifications are therefore required to provide advice in this area.
If the intermediary does not hold a lifetime mortgage qualification (CELM, CF7 or LMAPC) prior to 6 April 2007, then the new full equity release qualification will need to be passed in order to provide home reversion advice.
If the intermediary holds a lifetime mortgage qualification (pre April 6 2007) and intends to advise on home reversion plans, then the intermediary will need to pass the home reversion top-up qualification before 6 April 2009.
If the top-up home reversion qualification is not passed by 6 April 2009, then intermediaries will need to pass the new full equity release qualifications or restrict advice to lifetime mortgages only.
For further clarification please look at the required qualifications table, which is in the free download section on this website.