A report produced by the Equity Release Council sets out examples of good practice, strategic priorities and case studies to help firms support later life lending customers.
Produced in collaboration with Inclusive Outcomes, an organisation which helps vulnerable people, Later Life Lending and Customer Vulnerability is a sector-specific review of approaches to vulnerability in later life, available to council members.
The report offers practical tools to help ‘embed consistent good outcomes across the market’, covering key areas of good practice including structured identification of customers in vulnerable circumtances, dedicated adviser and staff training, use of vulnerability champtions and strong governance and escalation pathways.
Lauren Peel, senior partner at Inclusive Outcomes, explained:
“The Financial Conduct Authority believes that almost half of UK adults has at least one characteristic of vulnerability so it is vital that sectors and organisations really consider how they can best support their customers.
“Today’s report recognises the leadership already being shown across the later life lending sector, while offering practical ways to deepen that work. The Consumer Duty has set the benchmark — now we must move beyond compliance to deliver thoughtful, tailored support that reflects the lived experience of customers.”
The report identifies opportunities to further strengthen consistency when it comes to monitoring and evidencing customer outcomes, as well as adapting customer journeys to meet diverse customer needs. Good practice strategies are brought to life through a series of case studies drawn from real scenarios across advice firms and lenders. Each example provides practical evidence of best practice in operational settings and offers actionable ideas for firms seeking to strengthen vulnerability support within their own organisations.
Kelly Melville-Kelly, director of risk, policy and compliance at the Equity Release Council, commented:
“The sector has matured significantly in its approach to vulnerability — but the next phase must be about embedding consistency and driving continuous improvement. We know that individuals and organisations want to do the right things but at the moment, there is often a lack of practical, expert guidance to support complex interactions.
“Safe Steps, launching in November 2025, is designed to fill that gap and give advisers and lenders the tools to turn good intentions into confident, informed action.”
Safe Steps is a practitioner toolkit designed to embed vulnerability best practice across the distribution chain. Drawing on the principle that when dealing with a member of the council, customers should expect trusted, tailored, transparent and thorough support, the in-depth document will feature structured specific guidance for a range of vulnerable circumstances, adviser prompts and real-life scenarios.
