Equity Release Council reshapes leadership and expands focus on later life lending

Changes to the leadership team

Written in line with our editorial policy.

The Equity Release Council has announced a significant restructure of its senior leadership team as it prepares to widen its scope across the later life lending market.

As the trade body representing the equity release sector, the Council’s aims include promoting high standards of conduct and practice, from equity release advisers, providers, solicitors and others involved in the sector. 

At the centre of the changes is the promotion of Kelly Melville-Kelly to the post of deputy chief executive. Meanwhile the Council has named Laura Gibson as head of membership and engagement, and promoted Tom Brett to head of commercial and business development.

A new remit for later life lending

The restructure reflects the Council’s decision to broaden its remit beyond equity release alone, following a vote by members in December. It will now cover all forms of later life lending that sit within the regulated mortgage environment, such as retirement interest only (RIO) mortgages. 

Equity release – in the form of lifetime mortgages and home reversion plans – will remain a core area of the Council’s activity. Consumers taking advice or buying these products from members will know that the firms they deal with have signed up to the Equity Release Council’s Standards. 

These standards include the important ‘no negative equity guarantee’ which ensures that you or your estate will never owe more to your equity release lender than your property is worth. That’s regardless of how much interest accrues on your equity release plan. 

Responding to a fast-changing market 

Commenting on the changes, chief executive Jim Boyd highlighted the importance of maintaining high standards while responding to a rapidly evolving market: “The Council continues to lead a consumer focussed equity release market based on high standards and protections with which our members agree to adhere,” he said.

“The restructure and these promotions are designed to support the Council and streamline our operations, to best respond to the opportunities arising from the fast-changing later life lending market – and help protect and promote the interests of our members.”

Kelly Melville-Kelly said she was proud to step into the deputy chief executive role at a time of change for the organisation: “I am honoured to be taking on the role of deputy chief executive at the Council. This restructure comes at a pivotal time as we broaden our remit to encompass all forms of regulated later life lending, while continuing to champion the high standards and consumer protections that define equity release.”