Lead generation firm, Contact State, has been announced as the latest firm to join the Equity Release Council.

By becoming a member of the Council, Contact State will be able to work closely with the Council and its members, helping them understand how best to utilise external marketing companies in a compliant manner.

This can then give companies complete oversight of the consumer journey to enhance lead generation transparency within the equity release market.

The Equity Release Council is the industry body for the equity release sector that promotes and sets standards for the UK market.

Contact State said that its membership demonstrates its support for the standards, guidance and rules that are fundamental to the equity release market and the distribution of products to consumers.

Head of mortgages and lending at Contact State, Thomas Brett, commented: “The equity release market has been transformed with the development of the online journey, and while this digital shift – particularly at the start of the customer journey, via online quotes and calculators – has undoubtedly provided consumers with greater choice, it has also increased complexity and the potential for consumer detriment.

“There is an inherent level of vulnerability within the equity release market, and providers need to be able to trust their lead generation partners and be confident that they are holding themselves to the standards the Council expects. And that is where we come in.”

CEO of the Equity Release Council, Jim Boyd, added: “Contact State joining the Council is welcome news as we continue to grow our membership and ensure more firms abide by industry best practice in their interactions with consumers.

“The modern equity release market has seen significant growth in product innovation, choice, and flexibility in addition to the strong foundation of Council-led consumer protections in place since 1991.
 
“Advisers using the services of an introducer or lead generator must be confident their business is undertaken in a professional, safe, and secure manner with customer data handled in the proper way. Today’s digital world helps put more information at customers’ fingertips, and it is vitally important that trust and transparency are built into the process, so consumer interests are protected at all times.”

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