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London Institute of Banking & Finance updates Equity Release qualification

17 November 2019

The London Institute of Banking & Finance has updated its Equity Release qualification to keep pace with a rapidly changing market.

The group said it had made “fundamental changes” to the content, study text and course materials to reflect both industry priorities and consumer needs.

Updates include doubling the number of topics covered from three to six, with more detailed coverage of lifetime mortgages, and improvements in the text regarding vulnerable customers, powers of attorney and complaint handling.

New course content includes recorded interviews with members of the Equity Release Council and senior figures from within the equity release market, the group said.

Meanwhile, students will also benefit from a new, digitally enhanced course site featuring videos, quizzes and animations, with an additional digital specimen paper available from December.

Mark Heaton, director of corporate and professional learning, London Institute of Banking & Finance, said: ““Equity release products are changing rapidly, and the market continues to go from strength to strength. As a result, we’ve been talking to the sector to make sure that our Certificate in Regulated Equity Release remains relevant and up to date.

“This updated Certificate provides advisers with a solid grounding in everything they need to know about the market, products and regulations to enable them to give their customers the best advice possible – with practical examples that really help bring this to life.”

Students studying the current version of the course can sit the exam until 5 January 2020, with the new exam available from 6 January 2020.

Donna Bathgate, chief operating officer, The Equity Release Council, commented: “Today’s retirement landscape has evolved significantly with consumers facing a wide range of products and services to meet different and complex needs. We therefore welcome the news that The London Institute of Banking & Finance is refreshing the Certificate to ensure it remains fit for purpose. The update will ensure that the learning materials are reflective of today’s equity release market; are case study driven and interactive.

“In doing so, LIBF has established a platform to best equip advisers in the broader later life lending sector, one that will encourage a joined-up approach to later life financial planning that considers all wealth and assets.”

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