Following its entrance into the later-life lending advice market, Knight Frank Finance has joined the Equity Release Council, making it the first major property firm to do so.

The new team introduced by Knight Frank will advise on, and offer, a range of products designed specifically for homeowners over 55, including equity release options, influenced by the view that high net worth homeowners can also benefit from discussions about the role property wealth can play in the later-life stages.

Membership to the Council, the representative trade body for the equity release sector has been growing steadily, boosted by new entrants to the market. Almost all members (84 per cent) claimed membership is essential due to the credibility it brings, allowing them to play an active role in the industry.

The Equity Release Council last month signed its 1,000th member, with the growth highlighting the changing attitudes towards property and financial planning across the UK. Now, over half (51 per cent) of older homeowners take bricks and mortar into account when planning later-life.

Equity Release Council chairman David Borrowed commented: “Knight Frank Finance’s expansion into the later life sector, and membership to the Equity Release Council is testament to the growth in popularity of equity release, and the important work the Council does to uphold rigorous standards and consumer protections across the industry.

“As the popularity of equity release grows, so too does the need for qualified advice. The launch of Knight Frank’s Later Life Finance team is therefore a great addition to the equity release adviser landscape and the Council’s membership.”

Knight Frank Finance head David Forsdyke noted he had “worked closely” with the council for many years and has witnessed the “positive impact” they have on consumer protection and confidence in this market.

“Membership is, in my opinion, an essential ingredient for any firm involved in equity release,” he said.

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