The finance arm of Knight Frank has become the first property firm to sign up to the Equity Release Council (ERC).

Knight Frank Finance offers mortgage broking and more recently launched into equity release advice.

The newly formed team will offer a suite of products designed for older home owners, including equity release and retirement interest-only mortgages.

Knight Frank said the number of people aged over 65 living in the UK is forecast to increase by 20% to 14.4m by 2027, while those aged 90 and above is expected to rise at an even faster rate, by a third, to more than 750,000 people over the same time, so the need to provide suitable financial and housing options for these individuals is more important than ever.

It has now joined equity release providers and advisers at the ERC, which sets standards for those in the sector.

David Burrowes, chairman of the ERC, said: “Knight Frank Finance’s expansion into the later life sector, and membership to the ERC, is testament to the growth in popularity of equity release, and the important work the council does to uphold rigorous standards and consumer protections across the industry.

“As the popularity of equity release grows, so too does the need for qualified advice. The launch of Knight Frank’s Later Life Finance team is therefore a great addition to the equity release adviser landscape and the council’s membership.”

David Forsdyke of Knight Frank Finance said: “I have worked closely with the council for many years and have seen first-hand the positive impact they have on consumer protection and confidence in this market.

“Membership is, in my opinion, an essential ingredient for any firm involved in equity release.

“We are fully committed to this market and dedicated to providing a best in class service to our diverse range of clients, bringing the needs of high net worth homeowners into the conversation around equity release.

“Going forward Knight Frank Finance has ambitious plans to build its specialist team of equity release and later life financial experts.”