The Equity Release Council has appointed several senior politicians to its newly formed Advisory Board.

The Council has instituted an Advisory Board, which comprises members drawn from a wide range of sectors, including policy, academia, and communications. Current members of the board are: Lord David Lipsey, Lord Michael German, Lord Richard Best, Eric Ollerenshaw MP, Heather Wheeler MP and Laurie Edmans, former Chairman of SHIP.

Nigel Waterson, chairman of The Equity Release Council, said: “The creation of an Advisory Board is essential in the development of the Council, as it enables us to draw on the wealth of knowledge and experience of our senior supporters in Parliament and elsewhere.

“When we launched the Council in June, we aimed to sign up a variety of members, including advisers, solicitors, surveyors, and other interested parties. We have taken the same approach to our Advisory Board, confident that the contribution of different voices will help us to better represent and support the needs of the sector.”

Andrea Rozario, director general of The Equity Release Council, added: “There is still much that needs to be done in order to make the equity release market safer and better regulated for consumers.

“We are very pleased to welcome several senior politicians to our Advisory Board as their support not only shows that equity release has climbed up the political agenda but also demonstrates a turnaround in views of equity release. We are certain their contributions will prove invaluable in ensuring that the Council works alongside the Government to further improve and develop the equity release market.”