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Case study 7: Lessons from the equity release market

An ABI member who also operates in the equity release market, is a member of the Equity Release Council and therefore adheres to the ERC Statement of Principles (See References). Customers are offered the option to drawdown funds as and when required. The firm changed its procedures to a telephone-based drawdown process as opposed to paper-based or online so they can interact with elderly customers and better assess their capability, understanding and provide support where needed. This firm has also arranged staff to attend safeguarding training offered by the local council.