Initiative brings together international leaders to share best practices in later life lending
The Equity Release Council has launched an international forum aimed at encouraging global cooperation and knowledge-sharing within the later life lending market.
The newly formed group will be chaired by Yvonne Ziomecki-Fisher (pictured centre), chief customer, brand and advice officer at HomeEquity Bank, with Robbert Mulder (pictured right), head of European later life solutions at Senior Capital, serving as vice chair.
The forum includes representatives from several countries, including Canada, Germany, the Netherlands, France, Ireland, Italy and Poland. The goal is to promote international collaboration on common challenges related to housing equity and ageing populations, particularly as nations confront the implications of underfunded retirement systems.
“A significant proportion of the developed and developing world are facing the challenge of how to support a rapidly aging population who may not have the retirement savings they want or need,” Ziomecki-Fisher said. “Housing equity can play a vital role in meeting this challenge; therefore, I am honoured to be named chair of the Equity Release Council International Forum.
“Promoting continued high standards of conduct for equity release products is critical to a thriving industry, and to ensuring better outcomes for consumers across the globe. I look forward to supporting this important work and driving progress and collaboration with my colleagues in the Equity Release Council.”
The council currently oversees eight domestic forums where members collaborate on market initiatives and share expertise. This new international extension reflects the UK’s leadership in the sector, with its regulatory and operational frameworks widely viewed as benchmarks for other markets.
“Every advanced economy is facing the same challenges with rapidly ageing populations and inadequate retirement savings,” said Equity Release Council chief executive Jim Boyd (pictured left). “The Equity Release Council has for over 30 years pioneered standards in our sector which are recognised as the global ‘gold standard’ while the UK equity release market is considered the most sophisticated in the world.
“We are delighted to provide a new ‘international’ forum as a member benefit, and we look forward to sharing our knowledge and standards best practice with the international community as well as learn from them. This type of insight will be vital as we push collectively for more people to have the opportunity to use their housing wealth to meet their needs in later life.”
The launch comes at a time when UK later life lending is expanding, supported by increased adviser confidence and evolving product offerings. A recent study indicated that more than half of financial advisers expect demand in this area to continue growing over the next year.
“As institutional investors continue to seek greater portfolio diversification, later life assets – such as equity release mortgages and home reversions – are gaining traction as a compelling asset class,” Mulder added.
“I’m honoured to have been appointed vice chair of the Equity Release Council’s International Forum and look forward to encouraging broader discussion on how we can better support a diverse customer base by directing greater investment toward this high-growth, strategically significant international sector.”
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