New resource aims to support later life lending professionals in addressing customer vulnerability
The Equity Release Council has launched Safe Steps, a guidance hub designed to help firms across the later life lending sector respond more effectively to customer vulnerability.
Safe Steps offers practical resources, including case studies and adviser prompts, to assist professionals in identifying, recording, and addressing vulnerability in a consistent manner. Developed by the Equity Release Council, the hub is being shared with industry partners such as the Association of Mortgage Intermediaries (AMI), reflecting a sector-wide commitment to improving outcomes for customers.
The launch comes as the Financial Conduct Authority (FCA) continues to urge firms to strengthen their support for vulnerable consumers.
Earlier this year, an FCA study revealed that only four in 10 vulnerable customers disclose their circumstances to their financial services provider, meaning many do not receive the assistance they require. Of those who did share their situation, 74% said staff asked suitable questions to understand their needs, 57% felt their provider demonstrated care, and 58% reported receiving the support they needed.
“Every customer has a story: for some, later life lending is a positive step towards new opportunities; for others, it comes at a time of change or challenge,” said Kelly Melville-Kelly (pictured top), director of risk, policy and compliance at the Equity Release Council. “Safe Steps is about recognising those moments and responding with understanding and respect.
“Vulnerability isn’t a label. It’s a reminder that behind every decision is a person navigating their own circumstances. This new resource helps professionals replace anxiety with reassurance, confusion with clarity, and isolation with dignity.”
Melville-Kelly added that the Safe Steps guidance hub encourages a culture of empathy and accountability within the mortgage and later life lending markets. It is intended to foster shared learning and support professionals in embedding best practice in their day-to-day work.
“By embedding these approaches in our daily work, we can build deeper trust in later life lending and show that ours is a sector defined not only by products, but by people,” she stressed. “When care, compassion, and fairness sit at the heart of what we do, better outcomes naturally follow, safer, stronger, and more sustainable for everyone.”
According to Stephanie Charman, AMI chief executive, supporting customers in vulnerable circumstances is a collective responsibility that builds on the industry’s ongoing efforts to promote awareness and education.
“By sharing Safe Steps with AMI members, we aim to raise awareness of vulnerability characteristics and suitable accommodations, while also providing firms with practical tools to engage more effectively with their customers” Charman said. “This will help ensure customers are well-informed and supported to make confident decisions and signposted (where appropriate) to additional resources.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
