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Equity Release

Who and what is SHIP

SHIP stands for Safe Home Income Plans and is good news for consumers looking into Equity Release.

It is a code of conduct launched in 1991 the main aim of which is to protect consumers when taking out an equity Release deal.

All participating companies are pledged to follow the SHIP Code of Practice. Members display the SHIP logo in their brochures and other printed material as a guarantee to their customers.

The SHIP Code of Practice
  • Companies subscribing to the SHIP Code of Practice undertake to provide a fair, simple and complete presentation of any home income plan they may offer you

  • You will be given full details of your own obligations, commitments and rights under the plan, including security of tenure on your home for you and your partner (if applying jointly) for the rest of your lives

  • You will be told what costs are involved, your tax position and the possible effect on your plan - of moving house and of changing house values, as well as the effect of the transaction on the value of your estate on death

  • Your own solicitors will act on your behalf and look after your interests at every stage

  • Before your SHIP scheme can be completed, they will be required to sign a certificate confirming the principal terms of the contract have been fully explained to you

  • A SHIP plan guarantees that you cannot lose your home - whatever happens to the stock market or to interest rates
List of Current SHIP Members
Bridgewater Equity Release Ltd
Coventry Building Society
more 2 life
Prudential Lifetime Mortgages
Hodge Lifetime
National Counties Building Society
Retirement Plus Ltd
Home & Capital
New Life Mortgages Ltd
Saffron Building Society
In Retirement Services
Northern Rock plc
Just Retirement Limited
Norwich Union Equity

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